U.S. employment growth is slower, but unemployment remains low

Employers in the healthcare and retail sectors promoted job benefits in January.

According to the report, the average hourly wage has increased by 4.1% compared to January 2023.

This report was impacted by an annual revision that incorporates more detailed data on employment growth.

These showed that 2024 jobs benefited less than previously estimated in 2024. US stocks were hardly changed after the news.

White House spokesman Karoline Leavitt said the report “The Biden economy is far worse than everyone thought, highlighting the need for President Trump’s pro-growth policies.” .

Despite the revision, the latest report suggested that the job market is more stable than it was just a few months ago, and Samuel Toumes, a US economist at Pantheon Macroeconomics, said in March that the Fed had been said it does not expect to cut interest rates.

“Everything said, the economy produced less work than we thought last year, but the trend doesn’t seem to get worse anymore,” he said.

He warned that he still hopes for a “recurrence” of employment growth, given the calm level of employment indicators and rising uncertainty over the new administration’s economic policy.