In turn, though, the higher participation rate played a role in elevating the seasonally adjusted (SA) unemployment rate from 3.5% to 3.6%.
160,000 jobs, 3.5% unemployment, 3% annual wage gain "Given the instrumental role that the consumer plays, elevated confidence in the labor market is supportive to our call for extended economic expansion", Senior Economist Sam Bullard wrote. And we got a report earlier in the week suggesting a modest rebound in factory activity, but that didn't translate to factory jobs in January. Manufacturers lost jobs in January for the third time in four months. Employment gains averaged 193,000 in 2018.
Payrolls growth is expected to slow in February as the coronavirus, which has killed hundreds in China and infected thousands globally, disrupts supply chains, especially for technology companies such as Apple AAPL.O . That beat economist expectations for 17,500 new jobs.
That gain outstrips inflation and is key to helping USA consumers keep buying goods and services - a force which has been shoring up economic growth in the face of headwinds from overseas and sluggish growth at home.
The 514,000 downward revision is the the largest since 2009, according to Zhao.
The slowdown in job growth is blamed on worker shortages and ebbing demand for labour.
The decline was the result of an increase of 3,700 jobs. The unemployment rate is calculated from the household survey.
Despite the revision, the unemployment rate barely budged in January, up to 3.6 percent from 3.5 percent in December.
The biggest drops were in health care, which shed 4,700 jobs, and construction, which employed 4,000 fewer workers than in December.
Information unleashed Friday by the U.S. Labor Department also revealed that the unemployment rate ticked higher to 3.6%, but for the right reason as labour force participation rate increased 0.2 percentage points to 63.4%, matching its highest level since June 2013.
It's just as important to assess the labor market with the same sense of where the United States is in its recovery. "Over the same period, total hours worked increased 0.5%".
Statistics Canada further highlighted the gain in new positions in January to be attributed to the full-time jobs entirely.