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Today’s jobs report, for January 2025, was not your typical jobs report. Beyond the monthly job gains and unemployment numbers, historical revisions were released that transformed our view of the recent past of the U.S. labor market, while providing insight on the present and future trends.
Overall, employment rose by 143,000 in January and the unemployment rate ticked down slightly to 4.0%. So overall the labor market remains in solid shape going into 2025, although the recent past (2023 to 2024) shows a slightly weaker trajectory than before.
Watch my colleague Sam Kuhn’s main takeaways, and read my thoughts below: