Feb. 7 (UPI) — January job growth in the United States in January dropped drastically from December numbers and fell short of analysts’ expectations according to a Bureau of Labor Statistics report released Friday.
The January employment situation summary showed that U.S. nonfarm payrolls rose by 143,000 in January while unemployment fell to 4%, with 6.8 million unemployed.
The December jobs report was revised up to 307,000 new jobs and Dow Jones economists had predicted that the U.S. economy would add 169,000 jobs in January.
Some of the largest job growth in January took place in healthcare with 44,000 jobs, retail with 34,000 jobs and the government with 32,000 spots. The social assistance sector added 22,000 more jobs as well.
Mining, quarrying, and oil and gas extraction saw 8,000 fewer jobs in January than the month before following that 12-month index that saw little change in 2024.
A host of other sectors showed little difference in employment over the past month, including construction, manufacturing, wholesale trade, transportation and warehousing, information, financial activities, professional and business services, leisure and hospitality, and other services.
The report said that the average hourly earnings for all employees on private nonfarm payrolls jumped by 17 cents last month, or 0.5% to $35.87. Earnings have increased over the past 12 months by 4.1%.
