US job growth slows to 143k while unemployment rate drops to 4%

Source Cryptopolitan

The US job market slowed down a bit in January, with job creation dropping to 143,000 new positions, which is way below December’s upwardly revised 307,000 and far off the 169,000 economists expected, according to the Bureau of Labor Statistics (BLS) report on Feb. 7.

The unemployment rate dropped to 4% regardless, and the jobs report also revealed huge benchmark revisions that slashed earlier job growth estimates. The BLS’s annual review knocked off 589,000 jobs from the count covering the 12 months through March 2024.

Back in August, preliminary adjustments had hinted at an even worse shortfall of 818,000. Friday’s revision made it official. Health care, retail, and government were the main sectors adding jobs in January. Health care added 44,000 new positions, retail gained 34,000, and government employment rose by 32,000, according to the report.

Social assistance jobs contributed 22,000 to the month’s total, keeping things somewhat steady, even though the mining sector lost 8,000 positions. Overall, January’s job growth didn’t match the monthly average of 166,000 jobs seen in 2024.

But the household survey showed a massive 2.23 million increase in employment, and the bump came from annual adjustments in population and immigration estimates.

The labor force participation rate ticked higher to 62.6%, a small 0.1 percentage point increase from December. More people either found jobs or started looking for work. But not everything moved.

The broader unemployment measure—which includes discouraged workers and part-timers stuck in low hours—held steady at 7.5%. That’s an important figure because it perfectly shows the underlying slack in the labor market.

Notably, this is the first jobs report since Donald Trump’s return to office on January 20. His administration came in promising tax cuts, tougher trade policies, and measures to bring back American manufacturing. Now Federal Reserve policymakers are dissecting the data. The Fed cut rates by a full percentage point last year, but chair Jay Powell has said that they were likely not gonna be doing that this year.

Cryptopolitan Academy: FREE Web3 Resume Cheat Sheet - Download Now

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Sep 23, Wed
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
Author  Irene Q.
Oct 09, Fri
WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
placeholder
Gold Price Forecast: Gold Rebounds Above $4,200, Can Falling Oil Prices Drive Another Rally?As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
Author  TradingKey
Oct 09, Fri
As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
placeholder
US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
Author  Irene Q.
Oct 10, Sat
US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
placeholder
Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
Author  Irene Q.
Oct 10, Sat
Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
goTop
quote