US adds 130,000 jobs in January, beating forecasts despite massive payroll revisions
U.S. employers added 130,000 jobs in January, far exceeding expectations and signaling a rebound in hiring, though sweeping revisions sharply reduced prior payroll estimates.
- U.S. employers added 130,000 jobs in January, nearly double economist expectations of 70,000.
- Major benchmark revisions cut total 2025 job growth from 584,000 to 181,000 and signaling a weaker labor backdrop than previously reported.
- Crypto markets slid sharply, with the BTC down more than 11% for the week and falling another 2.5% over the past 24 hours amid broader market volatility.
The Labor Department reported Wednesday that nonfarm payrolls increased by 130,000 last month, well above economists’ forecasts of 70,000 and a sharp acceleration from December’s downwardly revised gain of 48,000.
The unemployment rate edged down to 4.3% from 4.4%, defying expectations for a steady reading.
However, the report also included significant benchmark revisions. The Bureau of Labor Statistics erased roughly 898,000 jobs from payroll estimates covering April 2024 through March 2025. As a result, total nonfarm employment growth for 2025 was revised down substantially, from 584,000 to 181,000.
Also:
The revisions suggest the labor market was considerably weaker over the past year than previously reported, even as January’s headline figures point to renewed hiring momentum at the start of 2026.
Crypto markets slid sharply, with Bitcoin (BTC) down more than 11% for the week and falling another 2.5% over the past 24 hours amid broader market volatility.
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Crypto execs met with US lawmakers to discuss Bitcoin reserve, market structure bills
Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more