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The U.S. economy added 130,000 jobs in January while the unemployment rate edged down to 4.3 percent from 4.4 percent, according to the Bureau of Labor Statistics.
“Total nonfarm payroll employment rose by 130,000 in January, and the unemployment rate changed little at 4.3 percent,” the U.S. Bureau of Labor Statistics reported today. “Job gains occurred in health care, social assistance, and construction, while federal government and financial activities lost jobs.”
Health care led the way with 82,000 new positions, followed by social assistance with 42,000 and construction with 33,000. Federal government employment declined by 34,000 as deferred resignations reduced payrolls. Financial activities also shed 22,000 jobs.
The unemployment rate remains higher than a year ago, when it stood at 4.0 percent. Long term unemployment held steady at 1.8 million, accounting for 25 percent of all unemployed workers.
Average hourly earnings rose 15 cents to $37.17, marking a 3.7 percent increase over the past year. The average workweek ticked up to 34.3 hours.
The Bureau also revised payroll data, cutting 862,000 jobs from March 2024 through March 2025 as part of its annual benchmark process.