Washington D.C., (Business News Report)|| US jobs data have showed more-than-expected growth during the month of January, ignoring the spread of the Omicron variant.
US jobs recorded growth with the creation of 467,000 jobs last January, according to what the US government announced.
President Joe Biden commented on job growth, saying: “America’s job machine is going stronger than ever, fueling a strong recovery and opportunity for hard working men and women across this country. America is back to work.”
The report of the Department of Labor, which also showed a slight increase in the unemployment rate to 4%, was a pleasant surprise for the largest economic power in the world. Many experts had expected weak or even negative job growth in the first month of 2022.
Last month, bars and restaurants were among the most prominent establishments in the entertainment and hospitality sector that witnessed employment. The sector created 151,000 jobs.
The professional and commercial services sector created 86,000 jobs. The retail sector created 61,000 jobs.
The US economy has created 1.19 million jobs since the peak of the COVID-19 outbreak in April 2020. But returning to the pre-pandemic level still requires the creation of 2.9 million jobs, according to the data.
Natural gas prices
In a related context, natural gas futures contracts in the United States recorded their highest levels ever, in a sudden jump.
A spokesman for the Chicago Stock Exchange stated that natural gas prices witnessed a rise of up to 72% for the February contract, bringing the price to 7.35 dollars.
Looking at the history of statistics issued in 1990, the rate of ascent is the highest ever.
Futures were trading at less than $4.50 per million British thermal units for most of the session until about 12:45 pm New York time. Afterwards, an upward surge began that pushed prices above $7. The February contracts settled at $6,265.
The rally extended to the March contracts, which were widely traded, with an increase of 9.5%.
