Economy adds 353,000 jobs in January
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 February 2024
⏱️ 1 minutes
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Summary
Stocks rise; professional and business services jobs increase; unemployment rate holds steady; consumer sentiment increases.
Transcript
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| 0:00.0 | This is the Marketplace Minute. |
| 0:03.0 | I'm Justin Ho. |
| 0:05.0 | Stocks closed higher on Friday, |
| 0:07.0 | after the Labor Department reported that employers added more than 350,000 jobs in January. |
| 0:12.0 | The Dow gained 3 tenths percent, the S&P rose 1 and 1 tenth percent, and |
| 0:17.0 | the NASDAQ added 1 and 3 quarters percent. The number of new jobs added in January was the highest in a year, |
| 0:23.7 | and a lot of the new jobs were in professional and business services. |
| 0:27.4 | Think marketers, accountants, researchers. |
| 0:30.2 | The health care sector added a lot of positions too, along with retail trade and social assistance. |
| 0:35.6 | Meanwhile, average pay rose 4.5% from the same time a year ago. |
| 0:39.8 | The unemployment rate held steady at 3.7%. |
| 0:43.5 | And people surveyed by the University of Michigan |
| 0:45.8 | said they were a lot more confident about the economy in January |
| 0:49.0 | than December. |
| 0:50.0 | Consumer sentiment is at its highest level in two and a half years. |
| 0:54.0 | I'm Justin Ho, with the Marketplace Manette. You're going to. |
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