Employment in the U.S. increased by much more than expected in the month of January, according to a closely watched report released by the Labor Department on Friday.
The Labor Department said employment jumped by 467,000 jobs in January compared to economist estimates for an increase of 150,000 jobs.
The report also showed the increase in employment in December was upwardly revised to 510,000 jobs compared to the previously reported 199,000 jobs.
Meanwhile, the Labor Department said the unemployment rate inched up to 4.0 percent in January from 3.9 percent in December. Economists had expected the unemployment rate to hold unchanged.
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