Despite ongoing fears of a recession, the US economy added hundreds of thousands of jobs to the labor market in January and the unemployment rate fell to its lowest rate in decades. Overall, job growth has been stronger than expected and the labor force participation rate has risen, though it still remains lower than pre-pandemic rates. However, these gains in the labor market are still accompanied by worries that the Fed will continue to raise interest rates and expectations of future downshifts in job growth given recent layoffs at large tech companies.
See "US Department of Labor releases January jobs report, indicating job growth and decreasing unemployment rates ", Paul Davidson and Elisabeth Buchwald, USA Today, February 3, 2023