"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. But the January numbers came in stronger than the 75,000 economists had expected. Healthcare accounted for nearly 82,000, or more than 60%, of last month's new jobs."
"Weak hiring over the past year reflects the lingering impact of high interest rates, billionaire Elon Musk's purge last year of the federal workforce and uncertainty arising from President Donald Trump's erratic trade policies, which have left businesses unsure about hiring. Dreary numbers have been coming in ahead of Wednesday's report. Employers posted just 6.5 million job openings in December, fewest in more than five years."
U.S. employers added 130,000 jobs in January and the unemployment rate fell to 4.3%. The Labor Department's report included major revisions that reduced the number of jobs created last year to 181,000, the weakest since 2020 and less than half the previously reported 584,000. Healthcare accounted for nearly 82,000 of January's new jobs, and factories added 5,000 jobs while the federal government shed 34,000. Average hourly wages rose 0.4% month-over-month. Weak hiring over the past year reflects high interest rates, federal workforce cuts, trade-policy uncertainty, and falling job openings and other private-sector reports showing subdued hiring.
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