U.S. Added A Strong 517,000 Jobs In January

WASHINGTON (AP) – America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. The unemployment rate dipped to 3.4%. Friday’s government report added to the picture of a resilient labor market, with low unemployment, relatively few layoffs and many job openings even as most economists foresee a recession nearing. Though good for workers, employers’ steady demand for labor has also helped accelerate wage growth and contributed to high inflation. January’s job growth, which topped December’s 269,000 gain, could raise doubts about whether inflation pressures will ease further in the months ahead.