The January jobs report came in much higher than expected, alleviating fears of a sharp slowdown in the labor market. The data also strengthens the case for the Federal Reserve to keep interest rates unchanged for the foreseeable future; certainly through the remainder of Jerome Powell's term as Fed chair, which is up in May.
According to the Bureau of Labor Statistics (BLS), nonfarm payrolls rose by 130,000 in January, more than double economists' estimates for roughly 55,000 new jobs.
