The growth of work in the US slows down but unemployment remains low

The growth of jobs in the US slowed last month, but unemployment remained low, as a sign of solid if more muted economy.

Employers added 143,000 jobs in January, while the unemployment rate dropped to 4% by 4.1%, according to the Ministry of Labor report.

The numbers staged the scene when US President Donald Trump enters the White House, promising great shaking, including redundancies of government spending and federal labor, mass deportation of migrants and higher tariffs for many goods entering the United States.

Proposals have increased uncertainty about the way forward for the largest economy in the world.

Last month, the US Central Bank cites questions about the future as it announced that it would not reduce interest rates by pause after a series of cuts that began in September.

Federal Reserve President Jerome Powell also said the bank's concerns about the labor market were gone.

Despite the slowdown in jobs last month, analysts said they did not see much in the report to cause new concerns, marking revisions of more wicker data showing that workplace growth in November and December is stronger from the earlier.

“The lower of expected January payment payers was more than compensated by the ascending revisions until November and December and a decline in the unemployment rate,” said Ellen Zentner, a major economic strategist for Morgan Stanley Wealth Management.

“Those who hoped for a soft report that would push the Fed back into speed reduction mode did not receive it.”

Employers in the healthcare and retail sectors caused the profits from work in January that came when the country was affected by wild fires and winter storms.

The average hourly fee increased by 4.1%, compared to January 2023, according to the report.

The report was affected by annual revisions, which include more detailed data on job growth.

These showed less profits from working in 2024 as a whole from the earlier. The US shares were slightly changed after the news.

White House spokesman Carolyn Levitt said the report shows that “Biden's economy is far worse than anyone has thought, and emphasizes the need for President Trump's growth policies.”

Despite the revisions, the latter report suggests that the labor market is more stable than a few months ago, said Samuel Grobs, Pantheon Macroeconomics's chief American economist, who said he no longer expects the Fed to reduce the rates in March.

“All the said, the economy has created a fewer jobs than last year, but it seems that the trend is no longer deteriorating,” he said.

He warned that the company is still expecting a “recurrence” in the growth of workplaces “given the diminished level of indicators for hiring and increased uncertainty about the economic policies of the new administration.”