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January job growth much better than expected

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Casey Harper | The Center Square

(The Center Square) – The Department of Labor released new jobs data for the month of January that surpassed experts' predictions.

The Department of Labor's Bureau of Labor Statistics released the data Friday which showed the economy added 467,000 jobs last month, putting unemployment at 4%.

"Both the unemployment rate, at 4.0 percent, and the number of unemployed persons, at 6.5 million, changed little in January," BLS said.

The federal data showed employment has improved from some of the impact of the pandemic-era shutdowns.

"Over the year, the unemployment rate is down by 2.4 percentage points, and the number of unemployed persons declined by 3.7 million," BLS said. "In February 2020, prior to the coronavirus (COVID-19) pandemic, the unemployment rate was 3.5 percent, and unemployed persons numbered 5.7 million."