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US ECONOMICS: January Nonfarm Payrolls Rises Less Than Expected

· 02/05/2021 03:39

08:35 AM EST, 02/05/2021 (MT Newswires) -- The January employment report showed nonfarm payrolls rose by only 49,000, well below the 100,000 increase expected in a survey compiled by Bloomberg, following a sharply downward revised 227,000 decrease in December.

Private payrolls rise by 6,000 in January after a 204,000 decline in December, below the increase of 118,000 jobs expected.

The unemployment rate fell to 6.3% in January from 6.7% in December, below the unchanged 6.7% rate expected.

Hourly earnings rose by 0.2% in January, below the 0.3% increase expected, following a 1.0% gain in December.

Annual revisions to payrolls, hourly earnings and hours worked are incorporated into the data.