January’s US jobs report misses the mark

The US economy failed to meet expectations for job creation in January and added 49,000 roles which was below analysts’ forecasts. The more concerning number was the fall in unemployment to 6.3% which, in part, indicates more people who were previously unemployed have now registered themselves as no longer in the job market rather than trying to fund employment. The market rallied on the news as investors believe this will spur the US government to launch a larger stimulus package which could include $1,400 cheques to Americans.