MinneapolisCNN — The US economy added an astonishing 517,000 jobs in January, showing that the labor market isn’t ready to cool down just yet.
The unemployment rate fell to 3.4% from 3.5%, hitting a level not seen since May 1969 — two months before Neil Armstrong stepped on the moon — according to new data released Friday by the Bureau of Labor Statistics.
Economists were expecting 185,000 jobs would be added last month, based on consensus estimates on Refinitiv.
By Bill Davis
February 3, 2023