January 20, 2026
The jobs picture has changed dramatically within the last year. The picture has not been so clear throughout the year, especially because of the major disruption due to the government shutdown which delayed and brought employment data into question for the latter portion of the year. In addition, we went through the year witnessing massive layoffs within the Federal Government sector. Yet, when you step back and look at the big picture, there is no doubt about the trends. The question is what do these trends mean?
The number of new jobs created in the U.S. during 2025 fell dramatically from previous years. And this trend deepened as the year progressed. The numbers? In 2024 the economy created approximately two million jobs. In 2025 just under 600,000 jobs were added. In the first quarter of 2025, the economy created over 300,000 jobs. In the fourth quarter of 2025, around 70,000 jobs were lost, though we expect the fourth quarter numbers to be revised somewhat. Additionally, the unemployment rate started the year at 4.0% and ended up at 4.4%, statistically a rise of 10%.
From a numerical standpoint, the direction of the job sector within the economy is clear. On the other hand, there is another factor in addition to the government layoffs which beckons us to look at these numbers more closely. That factor is immigration. And we are not focusing upon illegal immigration, but the reduction of legal immigrants. In 2024, the number of legal immigrants emigrating to the U.S. was approximately 2.6 million. In 2025, this number was reduced to around 1.0 million. Between the government layoffs and the reduction of approximately 1.6 million immigrants, it is no wonder that the number of jobs created has been reduced. But what does that mean for the overall economy? Will we continue down the path of muted jobs creation from here on out and how would this trend affect economic growth? We will get some of these answers in 2026, but the total picture may not be clear for some time.
Source: Origination Pro
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