Jobs growth far outstripped economists’ expectations in January, the latest surprise delivered by a labor market that has repeatedly defied predictions of a significant slowdown, the Wall Street Journal reported. Employers added a seasonally adjusted 353,000 jobs last month, the Labor Department reported Friday, the strongest in a year. December’s payroll gains were revised upward to 333,000 from 216,000, suggesting that higher interest rates haven’t cooled hiring as much as economists had previously thought. The unemployment rate in January held steady at 3.7%. Wages also outpaced expectations, jumping 4.5% last month from a year earlier, though hours worked dropped — a possible result of bad winter weather, some analysts said. Before Friday, recent data had shown the labor market cooling in a gradual manner, with wage growth easing and the pace of hiring moderating. A large share of hiring last year came from three sectors: government, healthcare, and restaurants and hotels. Other sectors have returned to a slower pace of growth.
