In January, 174,000 new jobs were created in the United States. This is a bigger increase than analysts’ estimates had calculated. The unexpected recovery in the US labor market is so good news, especially after a not-so-optimistic December.
While nearly 80,000 jobs disappeared in December, January brought an unexpected turnaround to the Us labor market. Especially in the context of the worsening epidemic situation that just happened in December. Many companies, especially in the field of services, had to close their operations under the weight of tightening up some measures.
The largest increase in the number of jobs was recorded in services (155,000). Another 18,000 jobs were added in the construction industry and 1,000 were created in the manufacturing industry. It is now expected that the turnaround will also be confirmed by the employment report to be released by government authorities on Friday.
If such a robust labor market resurging continues, analysts say, it could jeopardize the fiscal support package unveiled by new US President Joe Biden. The budget momentum is projected to reach $1.9 trillion, nearly a tenth of the annual output of the US economy.
