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Economics

Here’s where the jobs are for January 2025 — in one chart

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Health care was a bright spot once again for the U.S. economy in January, even as overall job growth showed signs of slowing.

Data on job growth in different areas of the economy from the Bureau of Labor Statistics showed health care and social assistance as the leading category, adding 66,000 jobs. Retail trade and government were also strong, adding more than 30,000 jobs apiece.

The gains in health care were broadly in line with the growth rates from 2024. The jump in retail jobs was more surprising, as that sector showed “little net change” last year, according to the bureau.

There were some pockets of weakness, with professional and business services losing 11,000 jobs. Employment in leisure and hospitality, one of the biggest areas of job growth after the Covid pandemic, also shrank slightly.

Overall, the net job growth of 143,000 was well below the upwardly revised growth of 307,000 in December. However, the unemployment rate fell and wage growth was strong, pointing to a solid and steady job market despite the lower headline number.

Looking at January, “what we see is a labor market that’s basically operating at full employment. And so I think the real question going forward is: Can we sustain full employment?” University of Michigan professor and former Department of Labor chief economist Betsey Stevenson said Friday on “Squawk Box.”

Economics

America’s Supreme Court tackles a thorny voting-rights case

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Louisiana v Callais, a case the Supreme Court heard on March 24th, contains a political puzzle. Why is the solidly Republican state defending a congressional map that cost the party a seat in 2024—and will likely keep that seat in Democratic hands after the 2026 midterms, when the fight to control the House of Representatives could be very close?

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Economics

Consumer confidence in where the economy is headed hits 12-year low

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Shoppers walk near a Nordstrom store at the Westfield UTC shopping center on Jan. 31, 2025 in San Diego, California.

Kevin Carter | Getty Images

Consumer confidence dimmed further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported Tuesday.

The board’s monthly confidence index of current conditions slipped to 92.9, a 7.2-point decline and the fourth consecutive monthly contraction. Economists surveyed by Dow Jones had been looking for a reading of 93.5.

However, the measure for future expectations told an even darker story, with the index tumbling 9.6 points to 65.2, the lowest reading in 12 years and well below the 80 level that is considered a signal for a recession ahead.

The index measures respondents’ outlook for income, business and job prospects.

“Consumers’ optimism about future income — which had held up quite strongly in the past few months — largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations,” said Stephanie Guichard, senior economist, Global Indicators at The Conference Board.

The survey comes amid worries over President Donald Trump’s plans for tariffs against U.S. imports, which has coincided with a volatile stock market and other surveys showing waning sentiment.

The fall in confidence was driven by a decline in those 55 or older but was spread across income groups.

In addition to the general pessimism, the outlook for the stock market slid sharply, with just 37.4% of respondents expecting higher equity prices in the next year. That marked a 10 percentage point drop from February and was the first time the view turned negative since late-2023.

The view on the labor market also weakened, with those expecting more jobs to be available falling to 16.7%, while those expecting fewer jobs rose to 28.5%. The respective February readings were 18.8% and 26.6%.

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Economics

A shambolic leak reveals Team Trump’s contempt for allies

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MANY KNOW the mortification of sending the wrong text message to the wrong person. But when the fat thumb is that of America’s national security adviser, Mike Waltz, the message is a detailed military plan to bomb Yemen and the recipient is a prominent journalist, the error is not just a cause of shame but potentially a serious breach of national security.

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