Healthy labor market will continue to support consumer spending

Employers continue to boost payrolls at a steady pace, according to preliminary figures from the Bureau of Labor Statistics. The national economy added a net 225,000 jobs in January on a seasonally-adjusted basis, which represented the fourth time in the last six months with gains of over 200,000 jobs. 

Job growth was broad-based across industries in January. The healthcare and social assistance sector added a net 47,000 jobs in January, while construction firms added 44,000 jobs.

The leisure and hospitality sector added a net 36,000 jobs in January, with the bulk of these gains appearing at eating and drinking places (24,000). The professional and business services sector added a net 21,000 jobs in January

Track more economic indicators and read more analysis and commentary from the Association's chief economist Bruce Grindy.