Jobless Rate Falls to 4%
A hiring sign at a health service center in Chicago. (Nam Y. Huh/AP)
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WASHINGTON — U.S. employers added just 143,000 jobs last month, but the jobless rate fell to 4% to start 2025.
The first job report of Donald Trump’s second presidency suggested that he inherited a labor market that is solid but unspectacular. January job creation was down from the 263,000 added in November, and the 307,000 created in December. Economists had expected about 170,000 new jobs in January.
Most Americans still enjoy unusual job security. But for those looking for work, the job hunt has been getting harder as the labor market cools from the red-hot hiring days of 2021-2023.
Average hourly wages rose by 0.5% from December and 4.1% from January 2024, coming in a bit hotter than forecasters had expected — news that might be disappointing to the inflation fighters at the Federal Reserve. The Labor Department also revised payrolls for November and December up by a combined 100,000. …
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