Payrolls gain 467,000 in January

Payrolls gain 467,000 in January despite omicron surge

Payrolls rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday.

Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate.

Along with the big upside surprise for January, massive revisions sent previous months considerably higher.

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