U.S. Adds 517,000 Jobs in January as Unemployment Hits 54-Year Low
Nonfarm payroll increased by 517,000 in January and the unemployment rate fell to 3.4%, according to a report from the U.S. Bureau of Labor Statistics. Job growth significantly exceeded the Dow Jones estimate of 187,000, and the unemployment rate is the lowest on record since May 1969. It also comes at a time when inflation has been falling and the U.S. economy grew by 2.9%, two other positive economic indicators.