Press Release
☷By the Numbers U S Economy Adds Over 350 000 Jobs in January Exceeding Expectations
U.S. Department of Commerce ( By Press Release office)
Feb 08,2024
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The U . S . Labor Department ' s Bureau of Labor Statistics recently reported that the U . S . economy added over 350 , 000 jobs in January , which was much more than expected . The unemployment rate has remained steady at 3 . 7 percent for the past few months , marking the longest streak since the 1960s . Overall , President Biden has created 14 . 8 million jobs , with 3 . 1 million created last year alone . The U . S . Commerce Department ' s Bureau of Economic Analysis also reported a 3 . 3 percent increase in real gross domestic product in the fourth quarter of 2023 . This shows that the U . S . has the strongest economy in the world . Wages also rose more than anticipated in January , with average hourly pay increasing by 0 . 6 percent from December and 4 . 5 percent from January 2023 . Consumer spending has also exceeded expectations in recent months . President Biden is committed to creating more American jobs and investing in the country ' s economy to maintain competitiveness . For more information , you can refer to President Biden ' s statement on the January Jobs Report .
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