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.

The January jobs report, to be released Friday morning by the Labor Department, will provide the first look at employment in 2025.

Defying fears of a pandemic-driven Great Depression and bucking Federal Reserve interest rate hikes as well, the U.S. job market has hit what U.S. central bank officials are characterizing as a moment of stable full employment,

The US added 143,000 jobs in January, with a drop in unemployment. Find out why wage growth and job gains lead to a hawkish Fed outlook.

The economy added a mild 143,000 new jobs in January as massive California wildfires and a cold snap in much of the country acted as a drag on hiring. But the details of the employment report point to a robust labor market that gained strength at the end of 2024.

Consensus forecasts call for a still-robust 170,000 jobs added last month, though that’d be the lowest January total since 2018.

Friday marked the release of the first jobs report under a new Trump administration.

Economists are expecting an overall healthy reading, with 169,000 net new jobs created in the month and the unemployment rate holding steady at 4.1%. The January report includes annual benchmark revisions and updates to models that could affect the data.