Jobs Growth In U.S.

Jobs Growth

The US economy added 517,000 nonfarm jobs in January, exceeding economist estimates of 187,000 and surpassing 260,000 jobs in December, according to government data released yesterday. The unemployment rate fell to 3.4%—the lowest jobless level since May 1969. 

The jobs report comes after the Federal Reserve raised its benchmark rate by 0.25% this week to a range between 4.5% and 4.75% as part of its efforts to cool the economy and tame high inflation (see previous write-up here). Analysts say the report suggests the economy continues to be resilient, despite recent layoffs in the tech and media industries, signaling the Federal Reserve is likely to continue to raise interest rates at its meeting next month. 

Most of the jobs in January were added in leisure and hospitality (128,000), professional and business services (82,000), government (74,000), and healthcare (58,000). Average hourly earnings grew 4.4% in January from a year earlier, down from a revised 4.8% in December. See all data here.

Quick Hits

US secretary of state postpones trip to China following spy balloon.

Secretary of State Antony Blinken was scheduled to depart from Washington, DC, to Beijing for a diplomatic trip before a Chinese spy balloon was spotted floating over the US this week. China claims the balloon is a weather research airship, while the US has described it as a surveillance vehicle. 

New Jersey councilwoman shot and killed in attack outside of home.

Eunice Dwumfour, 30, was found shot to death in an SUV outside of her home with multiple gunshot wounds. Dwumfour, a Republican, was elected to her first three-year term in 2021 when she unseated a Democratic incumbent. Authorities have not yet discovered a motive or suspect.

Suspect in disappearance of Dallas Zoo tamarin monkeys arrested.

Police arrested Davion Irvin, 24, at the Dallas aquarium and charged him with animal cruelty in connection with the theft of the rare monkeys, which were a part of a series of incursions at the zoo. Last month, a clouded leopard escaped through a hole in its enclosure, which was found to be deliberately cut. The leopard was later captured.

Wanted Italian mafia fugitive found living as a pizza chef in France.

Convicted murderer Edgardo Greco, 63, was arrested after being on the run for more than 16 years. Greco was sentenced to life in prison in absentia for the 1991 murders of two brothers, who were beaten to death at a fish shop in Calabria, Italy. 

Researchers discover new type of ice likely found only in space.

The new type of ice, known as medium density amorphous ice, most closely resembles liquid water than any other known ice. Its molecules are in a disorganized form, unlike ordinary crystalline ice. To create the ice, researchers used a process called ball milling by shaking ordinary ice together with steel balls in a jar at negative 328 degrees. 

The 65th Grammy Awards to be held Sunday at Arena.

The show airs live (8 pm ET, CBS), with Trevor Noah set to host for the third year in a row. Artists scheduled to perform include Bad Bunny, Mary J. Blige, and Sam Smith. See a list of award predictions here.

Celebrated perfume and fashion designer Paco Rabanne dies.

Rabanne, a self-taught designer known for his plastic and metallic space-age outfits, died at 88. Born Francisco Rabaneda y Cuervo in Spain in 1934, the designer fled the country during the Spanish Civil War and took on the name Paco Rabanne. 

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