By Tom Burnett CFA
On February 7, 2025, the Bureau of Labor Statistics issued its Employment Report for January 2025. Total employment rose by 143,000 to 159.6 million workers. The unemployment rate fell from 4.1% to 4.0%. The number of job seekers was unchanged at 6.8 million, less than the latest 7.6 million Job Openings (February 4 Report). The average monthly gain in 2024 was 166,000.
Average hourly compensation for nonfarm payroll workers rose $0.17 to $35.87, up 4.1% from a year ago.
Revisions to the November/December reports added 100,000 to total employment figures.
The next Employment Report will be issued on March 7, 2025.
Tom Burnett CFA is Director of Research