What's going on: The economy has entered its “sources say” era — plenty of numbers, not much clarity. Yesterday’s delayed jobs report offered the latest example. The Bureau of Labor Statistics reports the US added 130,000 jobs in January — 55,000 more than what economists expected. But there’s an asterisk: These reports often get revised, and usually downward. That’s exactly what happened at the end of 2025. The mixed signals don’t stop there. Consumer spending and economic growth looked solid in the third quarter, even during a record-long government shutdown. But (and this is a big one) the country only added 181,000 jobs in 2025, far below the 1.46 million added in 2024.
What it means: Many economists still see a labor market that looks sturdy at a glance but fragile up close. Yes, growth exists, but certain sectors are carrying us all. The majority of recent job gains come from one place: health care, which accounted for 97% of new roles in the private sector last year. As for spending, families earning more than this amount account for 45% of it and are part of the reason costs keep going up. To top it all off, companies are pouring billions into artificial intelligence, leading to layoffs across industries. While Wall Street is eating up this tech boom, the risks could reverberate across the economy if things go sideways. As many struggle to see the job gains reflected in the report, there’s a small bright spot: One expert told USA Today that hiring could pick up later this year after companies finalize their budgets and get clearer signals on interest rates.
