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02/29/2024 — The economy added 353,000 jobs in January, far more than expected. These stronger-than-expected figures came after December’s figure was revised sharply higher. While this current pace is unstainable, ongoing labor market resilience could complicate or delay the Fed’s intention to start cutting interest rates later this year.
Find more timely insights on the markets and economy in the February 2024 edition of Cycle Watch.

Author(s)

Mark Hackett, CFA, CMT

Chief of Investment Research, Nationwide Investment Management Group

Mark Hackett is the Chief of Investment Research for Nationwide’s Investment Management Group, bringing more than 20 years of experience in the asset management industry to the role.

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Ben Ayers headshot

Ben Ayers

Senior Economist

Ben Ayers is a Senior Economist with Nationwide Economics, supporting the company’s forecasting and macroeconomic analysis functions.

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Except where otherwise indicated, the views and opinions expressed are those of Nationwide as of the date noted, are subject to change at any time and may not come to pass.