January Job Creation Report
January job creation was weaker than expected, with nonfarm payrolls rising by 143,000, down from 307,000 in December. The unemployment rate dropped to 4%, and significant downward revisions to 2024 job totals were made. Job growth was noted in health care, retail, and government sectors.
Key Points
- Nonfarm payrolls rose by 143,000 in January
- Unemployment rate fell to 4%
- Job growth mainly in health care, retail, and government sectors
Pros
- Unemployment rate decreased to 4%
- Job growth in health care, retail, and government sectors
Cons
- Weaker job creation than expected
- Significant downward revisions to 2024 job totals