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The US employment report for January 2025 will be released on February 7, 2025. The economy is expected to add 165,000 to 169,000 new jobs. This would represent a huge drop from December, which added 256,000 jobs. And the unemployment rate is seen to be steady at 4.1%, meaning the job market remains healthy but has trouble getting going into recession.
Wage growth will also be keenly monitored since the average hourly wages are likely to go up by 4.1% year on year. Participation will also be watched keenly as it describes the number of people looking for jobs. It will be an updated version, and henceforth, the initially given figures might change for the jobs that hit the market.
Nonfarm payrolls rose by 256,000 in December 2024. The unemployment rate fell to 4.1%. Wage inflation moved lower, to 3.9%, but a crop of new jobs sprouted in industries from health care to retail. The average workweek remained unchanged at 34.3 hours.
