First Jobs Report Of 2025: Labor Market Still Solid
The Labor Department has released its first jobs report of the year, covering January 2025. It shows that payrolls grew by 143,000 — somewhat lower than economists’ expectations of 175,000. On the other hand, payroll growth for the end of 2024 was revised up quite a bit. Over the past 3 months, payroll growth has averaged a very strong 234,000.
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Friday’s report provided evidence of slowing expansion. The 143,000 jobs added would be the weakest January total since 2016.
A forensic examination of the U.S. labor market pretty much tells us what we knew along: Hiring was go, slow, and go again.
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