U.S. Adds 304,000 Jobs in January, Jobless Rate Rises to 4%

U.S. Adds 304,000 Jobs in January, Jobless Rate Rises to 4%

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Business, Social Studies, Life Skills

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The video discusses the minimal impact of the government shutdown on unemployment, which rose slightly to 4%. Job creation in January was strong, but December's numbers were revised down significantly. Earnings saw a modest increase, with minimum wage hikes contributing to a 3.2% year-over-year rise. Federal workers on temporary layoff affected the unemployment rate, which increased to 2.6%. The broader U6 unemployment rate also rose. Job creation was notable in manufacturing and construction, though construction pay decreased. Retail jobs increased, while coal mining jobs fell. Aggregate weekly hours, a GDP proxy, rose slightly.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What percentage increase was reported for minimum wage on a year-over-year basis?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the change in construction pay during the month?

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