Jobs report: Private sector added 130,000 jobs in January

Total nonfarm payroll employment rose by 130,000 in January, and the unemployment rate changed little at 4.3%, the U.S. Bureau of Labor Statistics reported Wednesday. Job gains occurred in health care, social assistance, and construction, while federal government and financial activities lost jobs.

"The January jobs report surprised to the upside, as the private sector added over 130,000 jobs and the unemployment rate ticked down to 4.3%. Healthcare and social services accounted for over half of those gains, while most other major sectors showed low or negative job growth. On the positive side, both hours worked and hourly wage gains improved in January,” said America's Credit Unions' Chief Economist Curt Long. “The labor market is maintaining a steady position overall, but it continues to exhibit some slack and plenty of unevenness. Credit unions are uniquely positioned to serve those households that are in struggling localities or sectors of the economy.”