U.S. had almost no job growth in 2025
The 2025 hiring boom was a mirage, with massive data revisions revealing a near-stagnant job market.
Deep Dive
Revised federal data shows the U.S. added only 181,000 jobs in all of 2025, a 70% downward revision from the preliminary 584,000 figure. This marks the worst year for hiring since 2020. A bright spot emerged in January 2026, with 130,000 jobs added—more than double economists' expectations—driven by health care and construction. The unemployment rate dipped slightly to 4.3%, but the revisions complicate the political economic narrative ahead of the 2026 midterms.
Why It Matters
The massive data correction reveals a much weaker labor market than believed, impacting economic policy, political campaigns, and consumer confidence.