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2/5, 2:31 PM (Source: TeleTrader)
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US nonfarm payrolls up by 49,000 in January

Nonfarm employment in the United States was up by 49,000 in January, just below expectations, the US Bureau of Labor Statistics reported on Friday. Meanwhile, the unemployment rate fell by 0.4 percentage point to 6.3% last month.

According to the update, the number of persons on temporary layoff decreased to 2.7 million in January, however, the labor market continued to be severely impacted by the coronavirus pandemic.

At the same time, permanent job losses stood at 3.5 million, little changed compared to December. The labor force participation rate was unchanged at 61.4%.

Breaking the News / JC