A January Surprise As Jobs Surge

In news that took economists by surprise, the U.S. economy created 304,000 net new jobs in January, while the unemployment rate ticked up a tenth point to 4%.

Around 170,000 new jobs had been anticipated, with expectations leveraged at least in part on the impact of the 35-day partial shutdown of the federal government. Foodservice and drinking place employment posted another strong gain, with 36,600 new jobs created. Now to find the bodies to fill those jobs.