Overview
- White House NEC Director Kevin Hassett said the administration expects slightly smaller job numbers and advised against overreacting.
- Economists now forecast modest January payroll growth, with surveys pointing to roughly 55,000 to 69,000 additions and unemployment near 4.4%.
- The BLS will release annual revisions alongside the report, and some analysts say the updates could materially downgrade 2025’s previously reported gains.
- ADP reported private employers added 22,000 jobs in January, attributing the weak total to slowdowns in manufacturing and professional services.
- Forecasters describe a low-hiring, low-firing labor market, with gains concentrated in health care and job openings at their weakest since 2020.