The US economy added 517,000 new jobs in January, much more than expected

First jobless claims rise in the US 0:52

(CNN) --

The US economy added 517,000 jobs in the month of January, showing that the job market is not yet ready to cool down, according to new data released Friday by the Bureau of Labor Statistics.

In addition, the unemployment rate fell from 3.5% to 3.4%, reaching levels not seen since before Neil Armstrong stepped on the moon.

Economists expected just 185,000 jobs to be added last month, according to consensus estimates in Refinitiv.

News in development.

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