The Labor Department's upcoming report suggests a robust start to 2025, with expected job growth around 175,000 in January. This growth mirrors average figures from the prior quarter, although month-to-month variations persist. The report will also incorporate larger annual revisions due to recent wildfires in Southern California and extreme cold weather affecting claims. Economist Stephen Gallagher notes that while the job market appears stable, with low layoffs and a steady unemployment rate of 4.1 percent, future changes under Trump's administration could alter employment dynamics considerably.
"Despite routine but larger-than-usual annual revisions, the Labor Department report is expected to show a solid month of job growth to start 2025."
"While the job-opening rate has sunk back to where it was before the pandemic, few employees are quitting, indicating confidence in job security."
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