January labor report: the job market cools slightly
The US labor market added 143,000 new jobs in January, which fell below economists’ expectations. The unemployment rate dipped slightly to 4% compared to 4.1% in December, according to the Bureau of Labor Statistics.
Healthcare had some of the largest gains last month, with 44,000 new jobs added. Retail also added 34,000 new jobs.
Government also saw job growth in January, with 32,000 new roles added. Leisure and hospitality and professional and business services saw losses of 3,000 and 11,000, respectively.
Although the report did not align with economists’ predictions, some reports suggest that the wildfires may have hindered the number of new jobs added last month.
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Download the January labor report
Source: January 2025 Monthly Jobs Report, Bureau of Labor Statistics
