๐ Payroll Growth Stalls: January Jobs Miss Expectations
Private payrolls added just 22,000 jobs in January, far below the 45,000 forecast, signaling a cooling labor market despite steady wage growth.
- Sector winners:
- ๐ฅ Education & Health Services: +74,000
- ๐ฐ Financial Activities: +14,000
- ๐๏ธ Construction: +9,000
- Sector losers:
- ๐ญ Manufacturing: โ8,000 (14th straight decline)
- ๐ผ Professional Services: โ57,000
- ๐ป Information: โ5,000
- Firm size trends:
- ๐ฅ Medium firms (50โ499 employees): +41,000
- ๐ข Large firms: โ18,000
- ๐งโ๐ง Small firms mixed: +30,000 (1โ19 employees) but โ30,000 (20โ49 employees)
๐ต Wages Hold Steady
- Job-stayers: +4.5% YoY
- Job-changers: +6.4% YoY
- Large firms leading wage growth at +5.0%



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