Will 2025 Bring More Jobs? A Look at 2024's Last Jobs Report

As 2024 comes to an end, the final jobs report is set to be released on Friday. This report can give us a hint at what 2025 might look like for jobs. In 2024, job growth started slowing down a bit. The US added about 180, 000 jobs each month, which is similar to the pace in the years before the pandemic. The unemployment rate also rose slightly but stayed quite low. Economists say this shows the US economy is making progress towards controlling inflation without causing a recession. Economists expect that in December 2024, job growth was good but not extremely fast. They predict about 153, 000 jobs were added, and the unemployment rate stayed at 4. 2%. Experts say the job market in 2024 was stable, with jobs and employees being balanced for the first time since the pandemic. However, 2025 might see changes. The labor market is already showing some shifts. Hiring has decreased, and people are staying in their jobs longer. Some industries, like healthcare and construction, might face challenges due to upcoming policy changes. On the positive side, the Federal Reserve has started to lower interest rates. This could help the economy and jobs pick up in 2025. Also, some sectors, like government jobs at the local and state level, might keep growing. Overall, the data from the end of 2024 shows the job market is stable but slowing down a bit. Some companies are laying off workers, but this is happening less than in previous years. People are also quitting their jobs less than they did during the pandemic.