US job growth slows but unemployment stays low
Published On Feb 7, 2025, 9:16 AM
In January, the US added 143,000 jobs but the unemployment rate fell to 4%. This indicates a slowing job growth but a stable job market overall. The Fed decided against cutting interest rates, signaling low concerns about the job market. Health care and retail sectors notably contributed to job gains despite adverse weather conditions. The White House highlighted the significance of the report in the context of President Trump's upcoming policies, emphasizing a need for pro-growth strategies. Analysts noted the upward revisions of previous months' job data, indicating a more stable trend in job growth.
Stock Forecasts
SPY
Positive
The job market appears stable with a lower unemployment rate and upward revisions in earlier job numbers. However, uncertainty surrounding new economic policies under the Trump administration may impact future jobs growth. Despite potential short-term disruptions, a stable job market might support consumer spending, which is favorable for the economy.
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