Whether the Fed will raise interest rates by 50 basis points in March is a watch

The U.S. Department of Labor released non-farm payrolls data. The U.S. non-farm payrolls unexpectedly increased by a better-than-expected 467,000 after seasonal adjustment in January. Employment records in the U.S. leisure and hospitality, professional and service industries, retail trade, transportation and warehousing industries The number of jobs in March 2021 is revised up by 374,000. Job gains were recorded in the U.S. leisure and hospitality, professional and service industries, retail trade, transportation and warehousing industries. Nonfarm payrolls for December 2021 were revised up to 510,000 from 199,000.

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Huitong.com Quick Review: January non-farm payrolls far exceeded expectations, and the Federal Reserve may raise interest rates 6 times in 2022; the US Department of Labor released data showing that US non-farm payrolls increased by 467,000 in January, and the unemployment rate rose to 4%, from 3.9 previously %, the annual rate of wages rose sharply to 5.7%, from 4.7% previously.

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Lower-hourly wage workers in industries such as healthcare, leisure and hospitality have been the first to bear the brunt of a wave of winter outbreaks led by the Omikron variant. However, the market's pessimistic expectations for non-farm payrolls in January have been partially digested by the market, and the actual released data was unexpectedly better than expected.

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Economists and White House officials urged against overinterpreting the January data. Some White House officials have warned that the data collection date for the January nonfarm payrolls report includes a spike in sick absences after public holidays. The market currently expects the Fed to raise interest rates six times in 2022. And inflation risk is the top concern of Fed officials. Fed officials should not be swayed by the January jobs data.

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Bloomberg analyst Chris Anstey commented that the labor force participation rate soared to 62.2% in January, up from 61.9% in December last year. This is a good sign and explains the rise in unemployment.

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Financial website FXSTREET analyst Eren commented on the US non-farm payrolls in January: In January, the number of unemployed people in less than 5 weeks increased to 2.4 million, accounting for 37.0% of the total number of unemployed. The long-term unemployed (those who lost their jobs for more than 27 weeks) fell to 1.7 million. That figure was down from 4 million a year ago, but 570,000 higher than in February 2020. In January, the long-term unemployed accounted for 25.9% of the total unemployed.

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Bloomberg analyst Chris Anstey on January nonfarm payrolls: Now, a month doesn't represent a trend, but looking at the jump in participation and the revisions to job growth over the past few months, combined with January's wage growth, in short, maybe the data Indicates that more and more Americans are returning to the job market.

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Bloomberg Intelligence (BloombergIntelligence) Chief Industry Economist Karl Riccarden on January Nonfarm: The drop in hours worked confirms what we already knew in January that the Omicron strain had a significant impact on jobs. However, it's also an important sign not to take the higher-than-consensus average hourly wage figures too seriously, as lower-wage workers getting sick can distort labor cost pressures upwards.

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U.S. economic observer Katia Dmitrieva commented on January non-farm payrolls: This growth extends to those areas of the labor market that usually take longer to absorb. The unemployment rate for black workers fell to 6.9% in January, and the increase in December reversed. More black workers entered the workforce and found jobs, boosting the participation rate to 62 percent, the highest level since February 2020.