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Jobs Report: Record January Layoffs Produces Strong January Hiring; Supply & Demand at Work in the Labor Market

The U.S. Bureau of Labor Statistics released its monthly Employment Situation Report this morning, showing the economy added a surprisingly strong 353,000 jobs in January. This is double economists’ expectations of 180,000 jobs, with strong gains in professional and business services, health care, retail trade, and social assistance. 

 

“This is a story of supply and demand,” Andrew Crapuchettes, RedBalloon CEO, said. “January saw the second highest layoff rate in history, which drove a large supply of available talent into a labor market where the demand for their skills was high.” 


Crapuchettes finished by saying, “The labor market churn is in full effect. While many large corporations downsized their labor force in January, other businesses quickly snapped up those employees, as reflected in the strong Jobs report.”  

 

Founded In 2021, RedBalloon has quickly become America’s largest woke-free job board, connecting employers and employees who prioritize a positive workplace culture free from the divisiveness of cancel-culture mandates.  

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