US Unexpectedly Adds 130K Jobs In January, Most Since Dec 2024 (Growing Private Sector Jobs, Declining Government Jobs)

In January the US added 130K jobs, double the 65K median estimate and up from a downward revised December print of 48K (vs 50K previously). This was also the highest monthly jobs increase since December 2024.

Government jobs fell by -42k. Furthering the trend for growing private sector employment and declining government employment.

Compared to Jan 2025, we see the growth in private sector employment and decline in government jobs.

The jobs report comes with the largest jobs revision since 2009/2010.

Now for the bad news, As my OSU/Chicago/GMU know, I prefer NON seasonally adjusted data when at all reasonable. While Seasonally adjusted jobs added SEASONALLY ADJUSTED was +130K, NOT seasonally adjusted jobs added was -2.649 Million.