Nonfarm payrolls were projected to increase by 169,000 in January, according to the Dow Jones consensus forecast.

Summary

The U.S. economy added 143,000 jobs in January, falling short of expectations, while the unemployment rate declined to 4%.

Revisions reduced 2024 job growth figures by 589,000 but increased the number of people reporting employment.

Job gains were led by health care, retail, and government, while wages rose 0.5% monthly and 4.1% annually.