Shock jobs report rattles Trump administration as new roles PLUMMET… but there is a silver lining

The first jobs report under the new Trump administration has come in weaker than expected. 

The US economy added 143,000 jobs in January, which was far fewer than the 169,000 forecast by economists.

But there was a silver lining –  the unemployment rate fell slightly to 4 percent from 4.1 percent in December. Investors had expected it to hold unchanged. 

Economists expected non-farm payrolls to grow by 169,000 from December to January, with the tally weighed down by the devastating Los Angeles wildfires and bitterly cold weather in many parts of the US.

In fact, the Bureau of Labor statistics said these factors ‘had no discernible effect on the count.’ 

It comes after hiring jumped unexpectedly In December. New revised figures on Friday revealed the economy added 307,000 jobs in December, up from an earlier figure of 256,000.

While this indicated strength in the economy, it also sent the stock market tumbling over fears that inflation is proving sticky. 

Friday’s report is the first jobs count since President Trump took office on January 20, with plans to boost growth, cut taxes and impose sweeping tariffs on key trade partners. 

The health of the labor market is a key consideration for the Federal Reserve, and investors will now be looking to the report for signs as to what move the central bank may make at its next meeting in March.

The majority of job growth for January was  

This is a breaking news story. Updates to come.