JANUARY JOBS

January net employment grew by a strong 130,000 jobs. Additionally, the workweek rose 0.3%, and the unemployment rate fell to 4.3% from 4.4% despite the labor force participation rate rising to 62.5% from 62.4%. Moreover, part-time employment fell by 453,000, and quits rose by 197,000. The only problem, healthcare/social assistance was responsible for 123,500, or 95% of all jobs. Outside of healthcare/social assistance, job growth has been zero since 12/24.