"U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands. The unemployment rate fell to 4.3%, the Labor Department said Wednesday. The report included major revisions that reduced the number of jobs created last year to just 181,000, weakest since the pandemic year of 2020, and less than half the previously reported 584,000. The job market has been sluggish for months even though the economy is registering solid growth."
"Healthcare accounted for nearly 82,000, or more than 60%, of last month's new jobs. Factories added 5,000, snapping a streak of 13 straight months of job losses. The federal government shed 34,000 jobs. Average hourly wages rose a solid 0.4% from December to January. The unemployment rate fell from 4.4% in December as the number of employed Americans rose and the number of unemployed fell."
U.S. employers added 130,000 jobs in January while government revisions reduced 2024 payroll gains to just 181,000, the weakest annual increase since 2020 and far below earlier estimates. The unemployment rate fell to 4.3% as employment rose and unemployment declined. Healthcare created nearly 82,000 jobs, more than 60% of the monthly gain, while factories added 5,000 and the federal government cut 34,000 positions. Average hourly wages rose 0.4% from December to January. Hiring has been weak amid high interest rates, a major federal workforce purge and trade-policy uncertainty. Job openings fell to 6.5 million and several large corporations announced major layoffs.
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