Watch FIFA World Cup 2026™

LIVE, FREE and EXCLUSIVE

US economy adds 1 million jobs in 3 months

One million jobs were added across the United States in three months, Labor Department figures say.

A line worker assembles a 2012 Ford Focus at the Ford Michigan
One million jobs were added across the United States in three months, Labor Department figures say. (AAP)

US employers kept their doors wide open for new hires in January, capping a three-month surge as a stunning one million jobs were created across the country.

A better-than-expected January total of 257,000 net new jobs made for the best hiring over three months since 1997, with a broad range of industries expanding payrolls despite the mid-winter economic slowdown.

The Labor Department's January employment report released on Friday also showed a modest gain in wages, and while the unemployment rate edged up to 5.7 per cent from 5.6 per cent, analysts said that related more to a jump in returnees to the labour force - a positive sign.

With the economy marking the 11th straight month of 200,000-plus jobs added, "This was another incredibly strong employment report for the US," said Harm Bandholz of UniCredit.

Most economists said the fresh data showed real signs of the economy gaining traction after a bumpy 2014 during which it grew a modest 2.4 per cent.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

US markets took the report as good news at first, but a bout of profit taking at the end of Friday's session left the S&P 500 and the Dow Jones Industrial Average both down by 0.34 per cent.

The US dollar surged more than one per cent to $US1.1322 per euro and to 118.97 yen, and US Treasury bond yields rose sharply.


2 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world