U.S. heads toward slow recovery with 353,000 jobs added in January
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The U.S. Bureau of Labor Statistics reported that nonfarm payroll employment rose by 353,000 in January, while the unemployment rate remained unchanged at 3.7%. Industries that saw the largest gains in jobs included business services, health care, retail, and social assistance. The professional and business services industry added 74,000 jobs, and healthcare jobs rose by 70,000. However, the mining, oil, and quarrying industries experienced a downward trend in jobs. Despite fears of a recession, the U.S. economy beat expectations in Q4 of 2023 with a 3.3% increase in real gross domestic product (GDP). Inflation has slowed, but prices remain high, and the Fed is still holding off on cutting interest rates. Home prices in the U.S. averaged over $400,000 and rose by 3.7% in December 2023.
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https://www.foxbusiness.com/personal-finance/jobs-added-january-unemployment