January unemployment drops to 4%
The January unemployment rate edged down to 4.0% and nonfarm pyroll employement rose by 143,000, according to the U.S. Bureau of Labor Statistics.
Employment in the mining, quarrying, and oil and gas extraction industry declined by 8,000over the month, following little net change in 2024. In January, the job loss was concentrated in support activities for mining (-8,000).
Employment showed little change over the month in other major industries, including
construction, manufacturing, wholesale trade, transportation and warehousing, information,
financial activities, professional and business services, leisure and hospitality, and other
services.
Employment in retail trade increased by 34,000 in January. Job gains occurred in general
merchandise retailers (+31,000) and furniture and home furnishings retailers (+5,000).
Electronics and appliance retailers lost 7,000 jobs. Retail trade employment had shown little
net change in 2024.
INDUSTRIAL SUPPLY MAGAZINE
The January/February issue of Industrial Supply magazine features an in-depth cover story about MSC Industrial Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
