The new year began with further increases in United States payrolls even as the unemployment rate held steady.
Nonfarm payrolls increased 353,000 and the jobless rate remained unchanged at 3.7 percent in January, according to the latest estimates from the U.S. Bureau of Labor Statistics.
Initial estimates for payroll gains the previous two months were revised upward a total of 126,000 to 333,000 for December and 182,000 in November.
Payrolls increased an average of 255,000 a month in 2023.
For January, 6.1 million people were counted among those unsuccessfully looking for work. Of those, 1.3 million had been out of work for 27 weeks or longer. Another 4.4 million people were counted among those working part-time because their hours were cut or they were unable to find full-time positions.
The labor participation rate — the portion of the population working or looking for work — was unchanged at 62.5 percent.
Payroll gains were spread out among a number of industry sectors. Employment increased 74,000 in professional and business services, 70,000 in health care, 45,000 in retail trades and 30,000 in social assistance. Government payrolls rose 36,000.
Employment retreated 5,000 in the mining sector, as losses in support activities more than offset gains in oil and natural gas extraction.
The average workweek for employees on private, nonfarm payrolls shortened two-tenths of an hour to 34.1 hours. The manufacturing workweek remained unchanged at 39.8 hours.
Average hourly earnings for employees on private, nonfarm payrolls rose 19 cents to $34.55. Hourly earnings increased 4.5 percent over the past year.