The January 2025 Jobs Report & December 2024 JOLTS: The Current U.S. Employment Situation

143,000 jobs were added last month, according to the BLS’s January 2025 jobs report. The total fell short of economists’ expectations of 170,000 jobs. On the other hand, the unemployment rate dipped to 4.0% – the lowest we’ve seen since May 2024 – and the number of unemployed persons decreased to 6.8 million compared to December 2024.

Per the latest BLS Job Openings and Labor Turnover Summary (JOLTS), job openings decreased to 7.6 million on the last business day of December 2024 and did not meet economists’ expectations of 8.0 million. Hires increased to 5.5 million and total separations increased to 5.3 million. The hires rate and the quits rate both held at 3.4% and 2.0%, respectively.

Here are more highlights of the BLS Employment Situation Summary and JOLTS reports:

• The JOLTS U.S. jobs data showed the largest job opening decreases occurring in professional and business services (-225,000), healthcare and social assistance (-180,000), and finance and insurance (-136,000); arts, entertainment, and recreation jobs jumped by 65,000 job openings.
• Average hourly earnings rose by 0.5% to $35.87.
• The change in total nonfarm payroll employment was revised up for November 2024 and December 2024 by 49,000 and 51,000, respectively.
• As an annual practice, the BLS also revised the jobs count downward by 589,000 for the 12 months through March 2024 – far lower than the previously estimated decrease of 818,000 jobs reported in August.

Industries hiring now include healthcare, which added 44,000 jobs, and retail trade, which added 34,000 jobs. Professional and business services jobs decreased by 11,000.

January 2025 U.S. job numbers are a bit of a mixed bag – as Paul Wiseman of the AP put it, “…a solid but unspectacular labor market.” Whether you’re building your team or setting your sights on a new career, iHire can help you get there despite these uncertainties. Post your jobs or search for openings in your industry today.