Workforce Insight Report

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January 2024 Insights

Line graph showing monthly US unemployment rates from January 2022 to January 2024, stabilizing around 3.6% throughout the period.

Unemployment Trends

Unemployment remains at 3.7% with no revision in recent months, signaling that the labor market remains strong.

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Wage Growth

Wage Growth had a surprising and significant rise from last month at a rate of 7.4% - pointing to a strong gain in new jobs.

Bar chart comparing pre- and post-revision changes in U.S. nonfarm payroll employment (in thousands) from January 2022 to February 2024, showing monthly employment figures.

Payroll Data

Nonfarm payrolls increased by 353,000 with notable revisions in December of 2023, and upward revisions back to January 2023. These numbers exceed projections and indicates that hiring continues to be robust.

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