India, Feb. 2 -- Signaling continued strength in the labor market, the Labor Department released a closely watched report on Friday showing employment in the U.S. soared by much more than expected in the month of January.
The Labor Department said non-farm payroll employment spiked by 353,000 jobs in January compared to economist estimates for an increase of about 180,000 jobs.
The report also showed significantly stronger than previously reported job growth in December, with employment surging by 333,000 jobs during the month compared to the jump of 216,000 jobs that had been reported.
"Given the Fed now wants strong job growth, as Jay Powell told us just two days ago, this report should not discourage the FOMC from cutting rates," said...