Jobs Report January 2023

February 3, 2023
A screen with a zoom call

Today’s jobs report is almost too good to be true.

Julia Pollak, chief economist at ZipRecruiter, on the January jobs report that showed better than expected job growth, prompting mixed reactions from economists.

Why It Matters: The latest jobs report for the first month of 2023 shows more than 500,000 jobs created – more than double the expectation of economists. The unemployment rate is at a 53-year low of 3.4%.

While some economist referred to this as "phenomenal report" others wonder if this is a trend or a one-off.

Pollak continued: “Like $20 bills on the sidewalk and free lunches, falling inflation paired with falling unemployment is the stuff of economics fiction.”

Jobs report shows increase of 517,000 in January, crushing estimates, as unemployment rate hit 53-year low (CNBC)

by Jenna Lee,