Unseasonably Warm Weather Fuels January Job Gains

Nonfarm payrolls rose by +225k in January, topping the +165k median forecast. The number of construction jobs climbed by +44k as weather conditions across the nation were unusually mild, but the manufacturing sector shed -12k jobs, the second straight month of factory sector decline. Upward revisions to the previous two months added another +7k jobs to the overall tally, boosting the 6-month average up to a strong +206k, more than double the number of jobs required to meet the estimated new workers entering the workforce every month.

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