U.S. economy added 304,000 jobs in January

According to the Labor Department's latest jobs report, the U.S. economy added 304,000 jobs in January. Unemployment increased to four percent - up from 3.9 percent - according to the report. The slight uptick in unemployment occurred in part because of the record-long shutdown that left thousands of federal workers furloughed. It also was the root cause of 175,000 more unemployed workers seeking full-time work in January vs. December. 

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January is the 100^th consecutive month the U.S. has added jobs - dating back to Nov. 2015, when Barack Obama was in his second term as president. The 304,000 jobs added also beat the department's estimation of around 170,000 jobs. The total also surpassed the 12-month average of 223,000 jobs added per month.

The new report also indicated that 222,000 jobs were added in December - a decrease from the 312,000 jobs initially reported. Wage growth also remained steady in January, with the average American worker making $27.56 per hour, according to the report.