January jobs report: Economy at full employment. Wage pressure picks up.
Economists had been expecting an overall healthy reading, with 169,000 net new jobs created in the month and the unemployment rate holding steady at 4.1%. The January report, which effectively closes the book on the Biden-era job market,
Friday’s report provided evidence of slowing expansion. The 143,000 jobs added would be the weakest January total since 2016.
But first a bit of background: The numbers in Friday’s jobs report most likely will change in the months (and years) to come.
January jobs report showed lower-than-expected job creation and downward revisions for 2024, but unemployment fell to 4%.
The January jobs report revealed a drop in the unemployment rate to 4%, accompanied by payroll gains of 143,000. A Fed ...
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