US economy adds 467,000 jobs in January, calming Omicron fears

The US jobless rate edged up slightly in January to 4 percent after falling to 3.9 percent in December, but the number of people participating in the labour force increased to its highest level since the pandemic struck [File: Marta Lavandier/AP]

Sometimes economic forecasters are too glum for their own good. That sure was the case on Friday with the release of the closely watched monthly US jobs report.

The United States economy added a robust 467,000 jobs in January, the US Department of Labor said on Friday. That was far, far better than most analysts were expecting and quells fears that the fast-spreading Omicron variant of COVID-19 temporarily dented the labour market recovery in the world’s largest economy.