Posted February 2, 2024

Manufacturing employment edges up in January

Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7%, the U.S. Bureau of Labor Statistics reported February 2.

Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry.

In January, the unemployment rate was 3.7% for the third month in a row, and the number of unemployed people was little changed at 6.1 million. 

Retail trade employment increased by 45,000 in January but has shown little netgrowth since early 2023. Over the month, general merchandise retailers added 24,000 jobs, while electronics and appliance retailers lost 3,000 jobs.

Employment in manufacturing edged up in January (+23,000), with job gains in chemical manufacturing (+7,000) and printing and related support activities (+5,000). Manufacturing experienced little net job growth in 2023.

Employment in the mining, quarrying, and oil and gas extraction industry declined by 5,000 in January, following little net change in 2023. Over the month, a job loss in support activities for mining (-7,000) was partially offset by a job gain in oil and gas extraction (+2,000).

Employment showed little change over the month in other major industries,
including construction, wholesale trade, transportation and warehousing,
financial activities, leisure and hospitality, and other services.