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Home Economy

143,000 jobs added in January, unemployment rate edged down to 4.0%

February 7, 2025
Reading Time: 1 min read
272,000 jobs added in May, unemployment rate edged up to 4.0%

Total nonfarm payroll employment increased by 143,000 in December, and the unemployment rate edged down to 4.0%, the U.S. Bureau of Labor Statistics reported.

Job gains occurred in health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas extraction industry.

Health care added 44,000 jobs in January, with gains in hospitals (+14,000), nursing and residential care facilities (+13,000), and home health care services (+11,000). Job growth in health care averaged 57,000 per month in 2024.

Employment in retail trade increased by 34,000 in January. Job gains occurred in general merchandise retailers (+31,000) and furniture and home furnishings retailers (+5,000). Electronics and appliance retailers lost 7,000 jobs. Retail trade employment had shown little net change in 2024.

Social assistance added 22,000 jobs in January, led by individual and family services (+20,000). Employment also rose in the community food and housing, emergency, and other relief services industry (+4,000). Employment in social assistance grew by an average of 20,000 per month in 2024.

Government employment continued to trend up in January (+32,000), similar to the average monthly gain in 2024 (+38,000).

Employment in the mining, quarrying, and oil and gas extraction industry declined by 8,000 over the month, following little net change in 2024. In January, the job loss was concentrated in support activities for mining (-8,000). The change in total nonfarm payroll employment for November was revised up by 49,000, from +212,000 to +261,000, and the change for December was revised up by 51,000, from +256,000 to +307,000. With these revisions, employment in November and December combined is 100,000 higher than previously reported.

Read the BLS release.

Tags: Nonfarm jobs
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