Today, the Bureau of Labor Statistics released its January Jobs report, recording that the U.S. economy added 143,000 jobs in January, lower than the expected 170,000.
Despite a drop in added national jobs, the Bureau said “the unemployment rate edged down to 4.0 percent in January, after accounting for the annual adjustments to the population controls.”
Wages rose 4.1% in January, up from 3.9% in December and above the 3.8% economists had expected.
Severe weather and the wildfires in Los Angeles were expected to be influential factors on today’s report, however, the Bureau of Labor Statistics stated “Severe weather occurred in much of the country during the January reference periods for both surveys. These events had no discernible effect on national payroll employment, hours, and earnings from the establishment survey, not on the national unemployment rate from the household survey.”
The latest annual benchmark revision recorded 589,000 fewer jobs added to the U.S. economy in 2024.
By CEO NA Editorial Staff
