US jobless rate falls to 8.3% as jobs surge

The US unemployment rate fell to 8.3 per cent in January, its lowest level in more than two years, thanks to an unexpected surge in hiring, government data showed yesterday.

The economy added 243,000 net jobs last month, the Labour Department reported, much better than the average analyst forecast of 155,000.

Businesses stepped up hiring, adding 257,000 jobs.

“Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing,” the department said.

Employment by governments, which had been shedding jobs under tight budgets, changed little over the month, it said.

The jobs growth brought down the jobless rate from 8.5 per cent in December. Most analysts expected it would hold steady in January.