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Headline Jobs Is a Blowout, but Fed Likely to Resume Hikes Longer or Higher

Headline Jobs Is a Blowout, but Fed Likely to Resume Hikes Longer or Higher
Federal Reserve Board Chairman Jerome Powell in Washington, on Feb. 1, 2023. Kevin Dietsch/Getty Images
J.G. Collins
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Commentary

The January jobs report Establishment Survey showed that the economy added 517,000 new jobs, wildly beyond the consensus estimate of  185,000 jobs. Net revisions for November and Decembber resulted in an additional 71,000 more jobs for the last three months. (It is generally believed that 200,000–250,000 jobs are required to accommodate population growth.) The unemployment rate printed at 3.4 percent.

J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
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