New jobs did not rise as much as initially projected but it
isn't the whole story. Some of this may be normal as the market adjusts and a
certain percentage of people shift jobs. Jobs are not the only marker or
benchmark for economic health. It is only one measurement that provides a
simple piece of information but doesn't tell the whole story. It should be kept
in mind that there are also lots of policy changes that at some points are
going to have an impact on the job market in one form or another (i.e. more
workers in the market). Helping workers transition and update skills for other
types of work is helpful for resettlement and market labor efficiency. Some of
that is based on access and quality of education. Interestingly, there was
likewise decline in some industries in which we are likely to see greater focus
and effort to improve in the future.
The Unemployment Situation January 2025
-143,000 jobs in January
-Unemployment rate down to 4.0 percent
-Jobs added in health care, retail trade, and social assistance.
-Employment declined in mining, quarrying, and oil and gas extraction.
-Income rose 17 cents, 0.5 percent, to $35.87.
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