Jolly Jobs

While down from December, January’s 151,000 new jobs was solid! The labor force participation rate rose to 62.7%, 0.3 points above the September low, and its best showing since 5/15; for those 25-55 the LFPR is up 0.5 points since September! Moreover, the unemployment rate fell to 4.9%, manufacturing added the most jobs in over a year, wages grew nicely and overtime hours were up, boosting wage income 0.9% M-o-M!