Just 157K New Payrolls Added In January, But HUGE Upward Revisions To December And November

The jobs report is out for January, and on the headline it's a slight miss.

157K new jobs is below the consensus estimates of 165K.

The unemployment rate ticked up to 7.9%.

But the report had a lot of good news as well. Last month was revised higher, from 155K to 196K.

And November was revised even higher, from 161K to 247K!

Those are some seriously impressive revisions.

Once again, public sector employment continues to be a drag. Another 4.7K jobs were lost in local government education.

Good news comes from average hourly wages, which grew 0.2%, ahead of the 0.1% that was expected.

The full report is here >

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