January Employment Strong Start Out of the Gate

January's employment report showed a strong 130K gain in nonfarm payrolls and a drop in the unemployment rate to 4.3%. This resilience likely puts further FOMC rate cuts on hold for the foreseeable future.

Key Takeaways

• 1.January nonfarm payrolls rose by 130K, significantly exceeding the consensus forecast of 65K and pushing the three-month average to 73K.
• 2.The unemployment rate fell to 4.3%, signaling that the labor market is stabilizing rather than rapidly deteriorating.
• 3.Annual benchmark revisions revealed a major downward adjustment to 2024/early 2025 job levels, though recent momentum appears firmer.

Table of Contents

• Summary
• Monthly Change in Nonfarm Payrolls
• Recent Trend in Hiring Improves
• Required Disclosures
• Important Information for Non-U.S. Recipients

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial