Schmid: January jobs number good news, undercuts concerns of labor market weakeness

WASHINGTON, Feb 11 (Reuters) - Unexpectedly strong job growth in January should undercut concerns about cyclical weakness in the job market, Kansas City Fed president Jeff Schmid said on Wednesday.

The addition of 130,000 payroll jobs last month "was good news," said Schmid, who noted that he dissented against rate cuts at the end of last year because he felt slow job growth was related more to shifting demographics and immigration policies rather than weak demand for workers, a point buttressed by renewed employment growth.