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Joint Economic Committee Democrats Chairman - Rep. Don Beyer (D-VA)

Job growth rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday. Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate.
The U.S. unemployment rate fell below 4% and wages jumped last month, adding to evidence of a tight labor market that’s expected to help spur Federal Reserve interest-rate liftoff as soon as March despite disappointing payroll growth. The jobless rate dropped to 3.9% and monthly wage growth accelerated in December, a Labor Department report showed Friday.