Job gains, labor force participation drive January job growth

With 225,000 jobs gained last month, NAFCU Chief Economist and Vice President of Research Curt Long said the report was “a good one,” noting “sturdy job gains and rising rates of labor force participation.”

“The overall participation rate climbed to its highest level since 2013, and the prime-age participation rate increased by a full percentage point over the past six months,” said Long in a new NAFCU Macro Data Flash report.

Private-sector payroll employment increased by 206,000 jobs during January, with the goods-producing sector adding 32,000 jobs, while the service sector increased 174,000 jobs.

Also of note, the unemployment rate rose 0.1 percent to 3.6 percent, despite the rise in labor force participation.

 

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