Economy Adds 200,000 Jobs According to Strong Jobs Report


The economy added 200,000 jobs in January and unemployment held at 4.1% according to the January jobs report released by the Labor Department.  November’s and December’s totals were revised upward by an additional 24,000 jobs.

The unemployment rate has dropped from 4.8% to 4.1% over the last year.  It has been at 4.1%, the lowest it’s been since December 2000, for four straight months.  The U.S. economy has added jobs for eighty-eight straight months.

Perhaps the strongest revelation is that wages have begun to rise, increasing by 2.9% versus last year.  Economists believe wages will continue to grow as the labor market tightens.

The unemployment rate is expected to fall into the mid-3% range this year, boosted by the GOP-passed tax overhaul passed in December.  The last time it was lower than this level was December 2000 when it was at 3.9%.

Economic growth however, may stay below 3%.  The economy grew at 2.3% last year, better than the 1.5% of the year before, but below the target of the 3% the current administration has set.


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