January US non-farm payrolls rise 130K, beating forecast

Non-farm payrolls in the U.S. increased by 130,000 in January, beating the market forecast of 66,000, the Bureau of Labor Statistics (BLS) announced. The unemployment rate came in at 4.3%, below the market expectation of 4.4%. The non-farm payrolls report, an official indicator covering both private and government sector employment, is a key dataset the U.S. Federal Reserve considers when making interest rate decisions. Strong employment figures, such as high job growth and low unemployment, may lead the Fed to consider raising or holding interest rates to prevent economic overheating. Conversely, weak data could prompt considerations for a rate cut to stimulate the economy.