US Jobs Report Shock: December NFP Slumps to +50K Amid Hiring Caution

Released today, January 9, 2026, the U.S. Bureau of Labor Statistics stated a disappointing +50,000 non-farm payroll jobs gained in December 2025, which represents a steep slowdown from November's revised +56,000. This poor print stresses continuous labor market cooling, driven by past disruptions from the federal government shutdown, currently normalizing, with large downward adjustments to October's numbers totaling -173,000.

While retail trade suffered significant job losses of 25,000 as a result of seasonal changes and more general prudence, job gains were mostly concentrated in resilient sectors such food services, health care (continuing its strong 2025 average of +34,000 monthly), and social assistance (+17,000).

With the unemployment rate stable at 4.5%, average hourly wages increased 0.3% month-over-month (3.8% year-over-year). Likely reducing expectations for strong Federal Reserve rate cuts in 2026, the data signals employer reluctance in the face of President Trump's tariffs, AI-driven changes, and economic uncertainty.