January’s job growth, well ahead of December’s 269,000 gain, raises some doubts about whether inflation pressures will ease further in the months ahead.
Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.
Mortgage buyer Freddie Mac reported that the average on the benchmark 30-year rate fell to 6.09% from 6.13% last week. The average rate a year ago was 3.55%.
