February 4, 2022

BLS Employment Situation Report (January 2022)

 Nonfarm Payrolls month/month  467,000.   Previous was 510,000

- Unemployment Rate  4.0%. Previous was  3.9%

- Private Payrolls - month/month 444,000.  Previous was   2503,000

- Manufacturing Payrolls month/month  13,000. Previous was   32,000

- Labor Participation Rate    62.2 %. Previous was  61.9%

- Average Hourly Earnings month/month    0.7%. Previous was  0.5%

- Average Hourly Earnings year/year    5.7%. Previous was  5.0%

- Average Workweek        34.5 hours. Previous was  34.7 hours  

Revisions to November and December added 709,000 jobs.

Bottom line is that these number were massively higher than expectations.

Source:  BLS  Details:  https://www.bls.gov/news.release/empsit.nr0.htm