US Nonfarm Payroll Growth Cools for Second Straight Month

Source: Bureau of Labor Statistics

Nonfarm payrolls in the United States added fewer for the second straight month in January, bringing the unemployment rate slightly higher. DXY is up 0.26%, while Gold is down 0.47%.

• Total nonfarm payroll employment rose by 467,000 in January, lower than the 510,000 jobs added in December 2021 and 520,000 added in January last year.
• Growth was extended in leisure and hospital, professional and business services, retail trade, and transportation and warehousing.
• The unemployment rate stood at 4.0%, higher than 3.9% in the previous month but lower than 6.4% in January 2021.
• The unemployment rate is down by 2.4 percentage points lower than in January 2021, with the unemployed persons down by 3.7 million.
• Unemployment rates for adult men and whites increased, while rates for adult women, teenagers, blacks, Asians, and Hispanics were little or unchanged.
• The labor force participation rate stood at 62.2%, with the employment-population ratio little changed at 59.7%.
• Teleworking individuals or those who worked at home at some point in the four weeks ahead of the survey increased to account for 15.4% of the workforce.