In January 2025, the US economy saw an addition of 143,000 jobs, which fell short of expectations, while the unemployment rate declined to 4%. Forecasts had predicted a stable unemployment rate of 4.1% and additional job growth of 170,000. Despite various challenging weather conditions, these factors did not impact the reported payroll numbers. A major annual report revision revealed nearly 600,000 fewer jobs created in 2024 than initially stated, highlighting a more stable labor market, described by economists as sturdy enough to support spending without leading to recession.
"The foundation of the labor market remains incredibly sturdy... revisions to the past year's data... did not fundamentally change the structure."
"The labor market has slowed, but it has not collapsed. Growth has remained solid enough to fuel consumer spending and put the economy on track for a 'soft landing.'"
Collection
[
|
...
]