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The US labor market improved slightly last month as daily COVID-19 cases crested and new stimulus hit households, but job-addition figures still fell short of expectations.

American businesses added 49,000 nonfarm payrolls in January, the Bureau of Labor Statistics said Friday. The report misses the consensus economist estimate of 105,000 job additions, according to Bloomberg data. 

The gains also mark a reversal from December’s revised decline of 227,000 payrolls. That report had snapped a seven-month streak of gains and signaled a dire hit to the country’s economic recovery.

The US unemployment rate dropped to 6.3% from 6.7%, details ⇒

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