U.S. Added 467,000 Jobs in January, Despite Omicron Surge

The video discusses the surprising job creation of 467,000 in January, despite forecasts predicting a much lower or even negative number. The unemployment rate increased slightly to 4%, likely due to more people re-entering the labor force. The labor force participation rate remained stable at 62.2%, and average hourly earnings saw a significant rise of 0.7% month-over-month, reaching 5.7% year-over-year. Private payrolls also exceeded expectations, increasing by 444,000 compared to the anticipated 35,000.

What was the year-over-year increase in average hourly earnings?

What was the expected number of private payrolls compared to the actual number?