225K New Jobs Bolster US Economy

The United States Department of Labor released a January report showing job growth was higher than expected.

In the first month of the year, U.S. employers added 225,000 new jobs, bolstering the steady growth of the economy and surpassing economists' expectations.

However, the Department of Labor also reported an influx of half-million people who entered the job market in January, but not all of them found jobs. This led to the unemployment rate to increase from 3.5% to 3.6% [Reuters].

Yet U.S. businesses remain confident that the economy will remain at a steady growth, despite factors such as the impact of the coronavirus outbreak, and Boeing suspending production.