January Jobs Report Beats Expectations; December Numbers Revised Downward

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The jobs report for the month of January has many experts scratching their heads.

The expectations were for less than 200,000 jobs to be added to the economy. But, the number came in at 353,000.

"This is the fifth month where we've seen a huge discrepancy between what the payroll survey has told us, and what the household survey has told us," said Heritage Foundation economist Steve Moore on Fox Business.

The numbers follow a report earlier this week that showed job cuts were up 136% from December to January.

"What is happening with the data," asked financial planner Rebecca Walser. "We're getting these consistently big announcements, but this is the best jobs report we've had in six months.

The labor participation rate remained at 62.5%, where it was in December. The unemployment rate also remained unchanged at 3.7%.

And there's this. the December jobs report number of 216,000 was revised downward, to just 158,000. That leads to speculation that the January number will be revised down in a month from now.


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