Excellent Employment

January employment grew by a strong 467,000. Moreover, December’s employment was revised up from 199,000 to 510,000 and November’s from 249,000 to 647,000, suggesting Omicron had little impact. Better yet, the labor force participation rate rose from 61.9% to 62.2% and the unemployment rate rose to 4% from 3.9% as workers returned from the sidelines. Wages rose 5.7% Y-o-Y, matching the inflation rate. 100% certain the Fed hikes on 3/16/22.