A worker welds a structural steel beam during production at a facility in West Jordan, Utah. Photographer: George Frey/Bloomberg.
Economists are scratching their heads as to whether the U.S. labor market is truly as strong as the latest employment report indicates—or whether wonky adjustments are getting in the way.
Employers added 517,000 jobs in January, nearly double the prior month's advance and above all estimates in a Bloomberg survey. The unemployment rate also unexpectedly retreated to 3.4 percent, the lowest since 1969, according to Labor Department data released Friday.
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