BUSINESS

Jobs Surge As U.S. Economy Continues To Defy Prediction

Job creation in the U.S. surged in January, as the economy continued to defy predictions of a slowdown.

The Labor Department said employers added 353,000 jobs and average hourly pay jumped, while the unemployment rate held steady at 3.7 percent.

The report extended a streak of job gains that has surprised economists, who have expected a jump in interest rates since 2022 to slow the economy.

Analysts said the job market strength made an early rate cut less likely.

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 Edited by Jesus Chan

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