The January job report released on Friday showed that America added 143,000 jobs.
The Bureau of Labor Statistics (BLS) data shows the country’s unemployment rate is 4 percent.
In December 2024, America added 256,000 jobs and the unemployment rate was 4.1 percent.
In January, the healthcare industry led job growth, adding 44,000 positions. Retail trade followed with 34,000 jobs, while government employment secured third place with 32,000 new hires.
The industry that lost the most jobs was the “mining, quarrying, and oil and gas extraction industry,” which decreased by 8,000 jobs last month.
BLS said that the labor force participation rate in January was 62.6 percent. A total of 1.4 million people were jobless for more than 6 months.
Adult men and women had the same unemployment rate at 3.7 percent.
During the Biden administration, unemployment decreased from 6.4 percent to 4.1 percent. In August 2024, the BLS had 818,000 fewer jobs than previously reported for that month. This required a correction.
On January 20th, President Donald Trump was sworn in for his second term.
During his brief time in the White House, he signed an executive order that launched a 10 to 1 deregulation initiative.
“The Order requires that whenever an agency promulgates a new rule, regulation, or guidance, it must identify at least 10 existing rules, regulations, or guidance documents to be repealed,” the memo says.
The executive order also mandates for Fiscal Year 2025 that “the total incremental cost of all new regulations, including repealed regulations, be significantly less than zero.”
Throughout the Biden administration, many regulations were added to American industries. According to a 2024 House Committee on Oversight and Accountability report, Biden’s policies added “$1.7 trillion in new federal regulatory costs.”
“The Biden-Harris Administration spared no expense and pushed a whole-of-government regulatory blitz on American businesses and consumers,” Representative James Comer (R-KY-1) said.
– – –
Zachery Schmidt is the digital editor of The Star News Network. Email tips to Zachery at [email protected]. Follow Zachery on Twitter @zacheryschmidt2.
