The American economy added 143,000 jobs in January, less than expectations

The American economy added jobs at a slower pace than expected in January, as the Federal Reserve remains in a detention style for interest rate discounts because it establishes labor market data and inflation data.

The Ministry of Labor stated on Friday that employers He added 143,000 jobs In January, the appreciation of Economists Lseg.

the Unemployment It came in 4 %, less than economists’ expectations.

The number of added jobs was reviewed in the previous two months, as the creation of job opportunities in November was revised 49,000 profit from 212,000 to 261,000; While December was revised by 51,000 profits ranging from 256,000 to 307,000. Completely, 100,000 other jobs were created in these two months of what I mentioned earlier.

The Federal Reserve preferred to grow price in December

Private sector salaries added 111,000 jobs in January, less than 141,000 estimated by LSEG economists.

Wage growth was stronger than expected, as the average profit grows by 0.5 % from the previous month and 4.1 % from last year. Both are at the forefront of LSEG economists’ estimates for 0.3 % on a monthly basis and 3.8 % on an annual basis.

the The manufacturing sector Employment opportunities were witnessed by 3,000 modest jobs in January, which came in the expectations of economists above that this sector will create 2000 jobs for this month.

the Healthcare industry 43,700 jobs were added in January, driven by hospital employment (+13,900), nursing and housing facilities (+13,200) and home health care services (+10,600). The sector was less than 2024 on average 57,000 jobs per month.

The retail sale added 34,300 jobs last month with noticeable gains in retailers in general goods (+31,200) and retail furniture and home furnishings (+5300), while electronics and devices retailers witnessed a decrease (-7000). In general, the retail sector had no pure change in 2024.

The government added 32,000 jobs in January – a number that was soon in line with its average monthly profit of 38,000 in 2024.

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Social assistance added 22,300 jobs, led by individual and family services (+20,100) with gains that also occur in community societies, housing, emergency and other relief services (+4,400). This sector grew with an average of 20,000 jobs per month last year.

Mining, quarry and Oil and gas The extraction industry lost 7,700 jobs in January, with the concentration of losses in mining support activities. The sector witnessed a simple net change in 2024.

The workforce participation rate did not change at 62.6 % after the annual amendments to the population controls by the BLS Statistics Office (BLS).

The number of people who are considered unemployed in the long term, which was defined as unemployed for 27 weeks or more, was not changed in January at 1.4 million. The unemployed in the long run constituted 21.1 % of all the unemployed.

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The number of workers working part -time has not changed for 4.5 million economic reasons. These workers preferred to work completely, but they were working part -time because their hours had decreased, or they could not find full -time jobs.

The number of multiple currencies increased by 286,000 in January and represented 5.3 % of the total workforce, a slightly changed level during the past year.

The January job report comes yet Federal Reserve She chose the fourth consecutive interest rates at her meeting last week amid uncertainty about inflation and labor market health.

The Federal Reserve maintains fixed interest rates amid uncertainty in inflation

Federal Reserve Chairman Jerome Powell “A wide range of indicators indicate that the conditions in the labor market are widely balanced” and that although inflation remained somewhat high, the labor market was not a source of large inflationary pressures .

“The January salary number has been compensated less than expected by the ups of the bullish reviews to the Aesthetics of November and December and a decrease in the unemployment rate,” said Ellen Zintner, the chief economist in Morgan Stanley Wealth Management. “Those who were hoping to obtain a soft report that would push the Federal Reserve to put the price cuts it did not get.”

Jeffrey Roche, chief economist at LPL Financial, said that the Jobs report in January “may be a report on Goldilocks – not very hot and not very cold.”

“In general, the demand for employment last year was softer than what was originally reported, but this trend was temporarily reflected in November and December. The unemployment rate is 4 % very low, which gives a reason to maintain the Federal Reserve fund The relative, “Roche added.

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The next Federal Reserve meeting is scheduled to be held from 18 to 19 March, and markets interact with the job report in January by strengthening expectations that the central bank will leave rates unchanged.

The possibility of normative federal funds increased in its current target range of 4.25 % to 4.5 % to 91.5 % on Friday, up from 84 % a day, according to the CME Fedwatch tool.