The U.S. added 517,000 jobs in January, blowing away analyst projections, while the unemployment rate dipped to 3.4%, the lowest in 54 years.
In another surprising figure, Labor Department data released Wednesday showed that the U.S. had a near-record 11 million job openings at the end of December, up from 10.4 million the month prior.
A survey from tech recruiting and staffing firm Andiamo found that 74% of tech workers who were laid off between September and November have already landed new jobs. Thirty percent of those fired workers jumped over to new industries such as finance and media.
“Despite the large layoffs and firings in the tech sector over the past year, the data strongly implies that these workers with in-demand skills are quickly finding employment,” Joe Brusuelas, chief economist at auditing firm RSM, said in a note.
What we learned about the US economy this past week