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NFP exceeded estimates

NFP exceeded estimates

In January, the non-farm payrolls rose more than forecasted despite the increasing omicron cases

According to the Bureau of Labor Statistics, the non-farm payroll surged by 467,000, while the unemployment rate came in at 4%. The figures came in a week after the White House announced that the numbers could be low because of the pandemic.

The most significant employment gains came in leisure and hospitality for January, which reported 151,000 hires.

Overall, the job gains brought employment back to approximately 1.7 million, below in February 2020, before the pandemic declaration.

Sources: cnbc.com, forexfactory.com

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