Economy Added 257,000 Jobs in January
Posted on February 6, 2015
The Bureau of Labor Statistics (BLS) has released its January 2015 employment report. The economy added 257,000 nonfarm jobs in January. Jobs added for the previous two months were revised upwards. The economy has added 336,000 jobs per month on average over the past 3 months.Retail and education and health services were the two industries adding the most new jobs in January 2015 with 46,000 new jobs each. Construction and professional and business services each added 39,000 jobs. Leisure and hospitality was also strong with 37,000 new jobs in January.
Job losses were recorded by mining and logging, transportation and warehousing and the government in January. Transportation lost 9,000 jobs and mining lost 3,000. The government was down 10,000 positions in January. You can view the full BLS report here.
The Street interviewed John Lonski, chief capital markets economist at Moody's analytics, about future jobs growth. His outlook for 2015 is good. However, he says there are concerns about wage growth and productivity. He also says it is possible the second half of 2015 could be worst than the first if corporate earnings start to decline. Take a look: