Non-Farm Payrolls Preview: U.S. January Non-Farm Data to Show Modest Growth, But Job Market 'Hot on Paper, Lukewarm in Reality'

BlockBeats News, February 11th. The US January non-farm payroll growth may have accelerated slightly with the support of reduced layoffs in seasonal industries, but recruitment was hampered by the continued uncertainty of import tariffs and stricter immigration enforcement limiting workforce supply, keeping the overall labor market subdued. Despite strong economic growth, the labor market is struggling. "The potential pressure in the labor market is greater than what the overall unemployment rate indicates," said Diane Swonk, chief economist at KPMG. "Wages are cooling down, it's harder to find a job after being unemployed, and it's also harder for recent graduates to find jobs. Despite the hot economic data on paper, the labor market is still quite rigid in reality." (FXStreet)