US adds stunning 517K jobs to start 2023

The U.S. labor market clocked another shockingly strong month in January, adding 517,000 jobs and dipping down to 3.4 percent unemployment, according to data released Friday by the Labor Department.

The numbers blow past expectations. Analysts were projecting an increase around 185,000 jobs and for the unemployment rate to edge up to 3.6 percent. In December, the unemployment rate dipped back down to a 50-year low of 3.5 percent and added 223,000 new jobs