U.S. job growth likely picked up in January, with unseasonably mild temperatures...
WASHINGTON - U.S. job growth likely picked up in January, with unseasonably mild temperatures seen boosting hiring in the weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment.
According to a Reuters poll of economists, the government’s survey of establishments will probably show nonfarm payrolls increased by 160,000 jobs in January, likely driven by hiring in construction and leisure and hospitality industries. The annual benchmark revisions to payrolls will attract attention amid concerns the Labor Department’s Bureau of Labor Statistics, which compiles the employment data, may not be fully capturing the impact on payrolls of President Donald Trump’s 19-month-long trade war with China, which has contributed to the longest downturn in business investment since 2009.
The government will on Friday also introduce updated population estimates to its smaller household survey data, including employment and labor force participation. The unemployment rate is calculated from the household survey.
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