Quick Review of U.S. Non-Farm Data

U.S. job growth in January exceeded expectations, and the unemployment rate unexpectedly declined, indicating that the labor market continues to stabilize at the beginning of the year. This adjustment shows that over the 12 months ending in March 2025, the actual number of new jobs added is about 900,000 less than initially reported. This figure is roughly consistent with the preliminary estimates from the U.S. Bureau of Labor Statistics (BLS)