New job numbers just released show the U.S. economy is creating jobs at a record pace. The unemployment rate rose slightly from 3.9% to 4%, but that’s actually a positive since it indicates more Americans are looking for work.
The numbers released by the Labor Department show 476,000 jobs were added in January, and numbers for December (510,000) and November (647,000) were amended, totaling much higher than initially reported.
Altogether, the U.S. has added almost 7 million in the past 12 months, much to the surprise of many. In January, the job surge was led by the leisure and hospitality industry, which added 151,00 new jobs, led by restaurants and bars.
This was followed by the 86,000 jobs added by professional and business services, 61,000 new retail jobs, and 54,000 jobs in the transportation and warehousing industries.
This is good news for small businesses because more Americans will have more money to spend.
You can read more in The Washington Post.
Job creation stock photo by sweeann/Shutterstock