U.S. unemployment fell to 4.3 % in January, the Department of Labor announced on Wednesday in Washington. In December it stood at 4.4 %, and the number of unemployed people dropped from 7.5 million to 7.4 million over the same period.
Companies created roughly 130,000 new non‑agricultural jobs in January. Growth came in healthcare, social assistance, and construction, while the public sector and finance saw job cuts. The long‑term unemployed reduced to 1.8 million from 1.9 million in December.
Worldwide investors scrutinize U.S. labor data intently. A strong job market paired with persistent inflation makes interest‑rate cuts less likely – a development that would be welcomed by the market because it would reduce the appeal of savings accounts relative to stocks and lower borrowing costs for businesses and other borrowers.
