February 3, 2017
- January more jobs than economists expected, led by gains in retail trade, construction and financial activities. Total nonfarm payroll employment increased by 227,000 in January, while the unemployment rate remained unchanged at 4.8%, according to today’s report from the Bureau of Labor Statistics.
- The Federal Open Market Committee unanimously voted to maintain the target range for the federal funds rate at 0.5% to 0.75% during the first meeting of the year. After not moving interest rates since December 2015, the FOMC finally announced an increase to interest rates in the final meeting of 2016.