U.S. Employers added 257,000 Jobs In January and the unemployment rate held steady at 5.7%. Wage growth has been a spotlight stat over the past few months and January saw the figure grow by half a percent to $24.75.
Revisions to November and December also added to the strong report. November's number was adjusted up by 70,000 and December by 77,000.
Here is the breakdown exactly where all those jobs were actually added in January:
Retailers added 46,000 jobs
Construction added 39,000 jobs
Food Services and Drinking places added 35,000 jobs
Health Care added 38,000 jobs
Manufacturing employment increased by 22,000
Despite the stellar report, some well known companies actually announced some well-publicized cuts in January:
American Express is cutting 4,000 jobs
eBay is cutting 2400 jobs
Baker Hughes is eliminating 7000 jobs
Sony Mobile is cutting 1000 jobs
DreamWorks is cutting 500 jobs
John Deere is cutting 910 jobs
According to Challenger, Gray & Christmas Jobs cuts by U.S. employers rose 63% in January vs. December.
40% of those lost jobs - 53,041 in total - came due to falling oil prices.