US adds 353,000 jobs in January, much higher than estimates of 187,000

By Ovunc Kutlu

ISTANBUL (AA) - The US economy added 353,000 jobs in January, much higher than market estimates, the Labor Department announced on Friday.

The market expectation for nonfarm payrolls was to show a gain of 187,000 last month.

Job additions for December 2023, meanwhile, were significantly revised up by 117,000 from 216,000 to 333,000, according to data from the Bureau of Labor Statistics.

The unemployment rate, however, remained unchanged at 3.7% in January for the third consecutive month, compared to the previous month.

The market estimate for the figure was to come in at 3.8%.

Also, the number of unemployed people also remained mostly unchanged at 6.1 million, according to the Labor Department.