US Economy Boosts Jobs with 353,000 New Positions in January 📈

US Economy , Added 353,000 Jobs in January.<br />According to the Labor Department's <br />Bureau of Labor Statistics, nonfarm <br />payrolls grew by 353,000 in January.<br />That number exceeded the Dow Jones estimate of 185,000, CNBC reports. .<br />The unemployment rate stayed at 3.7%.<br />Average hourly earnings rose 0.6%, <br />twice as much as the monthly estimate. .<br />Year-over-year, earnings jumped 4.5%, <br />which was also above the forecast of 4.1%.<br />The wage gains occurred as average hours worked declined, dipping to 34.1.<br />Professional and business services posted the most job growth for January with 74,000 positions.<br />Health care, retail trade, government, social assistance and manufacturing were also significant contributors.<br />Health care, retail trade, government, social assistance and manufacturing were also significant contributors.<br />Health care, retail trade, government, social assistance and manufacturing were also significant contributors.<br />The report, while showcasing the <br />resilience of the American economy, .<br />could prompt questions about the Federal Reserve's timeline for lowering interest rates, CNBC reports. .<br />Benchmark short-term borrowing costs were kept in place earlier this week, with the Fed indicating that inflation must show more signs of cooling.