U.S. Economy Adds 304K Jobs in January
Friday, February 01, 2019
GoLocalWorcester Business Team
The United States economy saw its biggest job increase in nearly a year, added 304,000 new jobs during the month of January, according to the Department of Labor.
“Best January for the DOW in over 30 years. We have, by far, the strongest economy in the world,” wrote President Donald Trump on Twitter.
The economy has added an average of 241,000 jobs a month since November, while employment gains in 2018 were the best that they have been in three years.
Companies that provide leisure and hospitality like hotels, restaurants, gambling, recreation, and others added 74,000 jobs in the month.
Meanwhile, construction firms took on 52,000 new workers, healthcare providers added 42,000 workers and transportation and delivery companies added 27,000.
Retailers added 21,000 jobs.
Unemployment and Wages
While jobs were added, the U.S. unemployment rate rose from 3.9% to 4% in January.
According to the Labor Department, the government shutdown did not adversely impact the higher jobless rate.
The average wage paid to American workers went up three cents to $27.56 an hour