Estimates for November and December have been additionally revised up, by a combined 126,000 jobs. U.S. employers added a whopping 353,000 jobs in January, excess of forecasters had been anticipating. Job openings have come down and the housing market slowed in response to greater charges, however both hiring and consumer spending have remained surprisingly resilient. Even manufacturing, which has been in a mild recession for about a year, added 23,000 positions. That reflects optimism within the latest purchasing managers index for manufacturing, which jumped unexpectedly last month.
