According to one economist, January 2020 is showing a strong start to the year, and one more sign the expansion has continued to pull employees into the workforce
Not only is the participation in the labor force on the rise, but there is a pickup in employment. This is a sign that the job market has momentum and could continue thriving for some time. The American economy added 225,000 new positions in the first month of the year, a surprise showing of ongoing strength for the economy. Due to more employees joining the workforce, the unemployment rate increased ever so slightly to 3.6 percent. Even with the increase, the jobless rate stayed at a 50-year low.
Transportation, warehousing, construction, and healthcare, showed the most substantial US job growth, reported the Bureau of Labor Statistics. The new report of the job increases came after a record December, where women outpaced men in the labor force for only the second time on record. Women continued to make up just over 50 percent of the non-farm workforce in January as well.
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