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New data from the Bureau of Labor Statistics’ (BLS) monthly employment situation report confirms that the historically strong U.S. labor market has continued to expand into 2020.
The report’s Establishment Survey finds that the economy added 225,000 jobs in January, crushing market expectations of 158,000 jobs. Including upward revisions to November and December, average monthly employment growth over the past year was a healthy 171,000 jobs. The sectors that saw the largest gains last month were education and health services (+72,000), construction (+44,000), and leisure and hospitality (+36,000).