The unemployment rate rose to 4.0 percent, but annual population/technical adjustments to the household survey may be partly responsible for the increase.
Some cracks in the jobs picture: The number of people employed part-time for economic reasons increased in January and are up 779,000 since August 2018.
Weekly earnings growth varies by industry: Information (7.6%), utilities (6.0%), construction (4.9%), and finance (4.0%) all have strong above-average earnings growth.
Job gains were focused in six industries accounting for almost 64 percent of all job growth:
- Construction (+52,000);
- Health care (+41,600);
- Bars and restaurants (+36,600);
- Transportation and warehousing (+26,600);
- Retail trade (+20,800); and
- Professional and technical services (+15,400).
Looking ahead: Trade and tariff issues and slower global economic growth will continue to be headwinds for the foreseeable future.
