January unemployment rate 3.7%, unchanged from December

The unemployment rate for January was 3.7%, the Labor Department reported Friday.

The rate was unchanged compared to December 2024's 3.7%.

Economists surveyed by Factset projected the jobless rate would be 3.8%.

The economy last month added 353,000 new non-farm payroll jobs, according to the report by the department's Bureau of Labor Statistics, compared to economists' projection of 176,500.

The number is a an increase from December’s 216,000-job gain, according to the business magazine Barrons.