Labor Department reports 467,000 added in January.
The Bureau of Labor Statistics announced the addition of 467,000 jobs to the economy in January. The numbers far outpaced the 150,000 that economists had predicted—offering an encouraging sign that the labor market has pulled through the Omicron surge with little damage. The unemployment rate is holding steady at 4.0%.
The growth is being seen as particularly welcome news. Participation in the labor force is showing an increase, with service industries, hotels, and restaurants leading the way. However, the economy is still millions of jobs short of where it was prior to the onset of the pandemic.
As the Lord Leads, Pray with Us…
- For the president and his administration as they crafted labor policy.
- For officials in the Bureau of Labor Statistics as they evaluate and review data and report information.
- That Secretary Walsh would seek God’s guidance as he heads the Labor Department.
Sources: Wall Street Journal, New York Times
