National Jobs Report

Total Jobs Added

+353,000
  • From Last Month: +0.2%
  • 3 Month Average: 289,333
  • From Last Year: +1.9%

Unemployment Rate

3.7%
  • Month Over Month: 0.0%
  • 3 Month Average: 3.7%
  • Year Over Year: +0.3%

+353,000 jobs in January

National Unemployment Rate

January shocks, bringing another month of strong numbers

The US labor market surprised experts yet again, adding 353,000 jobs last month.

Just as surprising: For the third month in a row, the unemployment rate held steady at 3.7%. This marks the 24th straight month where it’s sat under 4%. This is the longest stretch since the 1960s.

Many were looking at ADP’s tepid numbers earlier this week and recent layoffs from major national employers, including UPS, Google, and Amazon. Economists were betting on a slight increase of +180,000 jobs added – and for the unemployment rate to rise only slightly to 3.8%.

While the labor force participation rate stayed at 62.5%, average hourly earnings were up 0.6%, while predictions only expected it to slow to 0.3%.

In another unexpected sign of a strong labor market, the Bureau of Labor Statistics also revised December’s gains upward by 117,000 jobs – which means 2.7 million jobs were added in the US last year. On average, 255,000 jobs were added each month.

How long will the good times roll?

Leisure and hospitality (+11,000), healthcare (+70,000), and government (+36,000) continued showing their post-pandemic strength.

Unlike previous months, more industries saw strong gains. Retail (+45,000), manufacturing (+23,00), and professional and business services (+74,000) all picked up in January.

Before locking in on a definitive trend though, many experts warn that the January jobs report is notorious for surprises and outliers.

The start of the year can be the time of year when employers tighten their belts with layoffs and budget cuts. On the other hand, January is often when raises and promotions are instituted and new hires are brought on board.

February might be a more reliable indicator of what to expect in 2024 – whether the labor market will continue smashing predictions or settle down.

What’s ahead in 2024?

It’s hard even for the experts to predict what’s ahead. There’s plenty of noise out there, and ignoring bad advice is a constant challenge.

That’s why you need a staffing partner who can help you make sense of the latest trends – and not just the ones making national headlines. We do this by using data and market research that reflect what’s happening on global, national, regional, and local levels.

You’ll also be talking to staffing experts who understand your industry: what’s typical, what’s cyclical, and what’s completely unexpected.

So, if you’re looking for staffing and HR solutions that are less generic and more tailored and consultative to your region and business, reach out to us today and let’s talk about a staffing strategy for you.

U.S. Industry Job Growth from the B.L.S.

Financial activities +8,000
  • Month over month: +0.1%
  • 3 Month Average: +9,238
  • Year over year: +1.1%
Telecommunications -3,400
  • Month over month: -0.5%
  • 3 Month Average: +633
  • Year over year: -4.4%
Leisure & hospitality +11,000
  • Month over month: +0.1%
  • 3 Month Average: +16,804
  • Year over year: +2.9%
Manufacturing +23,000
  • Month over month: +0.2%
  • 3 Month Average: +12,961
  • Year over year: +0.3%
Retail trade +45,200
  • Month over month: +0.3%
  • 3 Month Average: +15,614
  • Year over year: +0.9%
Transportation & warehousing +15,500
  • Month over month: +0.2%
  • 3 Month Average: +6,545
  • Year over year: -0.8%
Air transportation -1,500
  • Month over month: -0.3%
  • 3 Month Average: +568
  • Year over year: +6.4%
Transportation equipment manufacturing +5,600
  • Month over month: +0.3%
  • 3 Month Average: +1,829
  • Year over year: +4.4%
Chemical manufacturing +6,900
  • Month over month: +0.8%
  • 3 Month Average: +898
  • Year over year: +0.1%
Goods-producing +28,000
  • Month over month: +0.1%
  • 3 Month Average: +21,721
  • Year over year: +1.2%
Hospitals +20,400
  • Month over month: +0.4%
  • 3 Month Average: +5,438
  • Year over year: +3.8%
Computer & electronic product manufacturing +1,400
  • Month over month: +0.1%
  • 3 Month Average: +1,107
  • Year over year: +0.1%
Health care & social assistance +100,400
  • Month over month: +0.5%
  • 3 Month Average: +21,999
  • Year over year: +4.7%
Professional, scientific, & technical services +41,900
  • Month over month: +0.4%
  • 3 Month Average: +10,944
  • Year over year: +2.7%

U.S. Job Growth for All Sectors

Local Job Reports

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.