First jobs report under Trump saw a drop in new roles – but there is a silver lining

The US economy added 143,000 jobs in January, fewer than economists expected.

But the first jobs report under the new Trump administration revealed that the unemployment rate has fallen 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.

It comes after hiring jumped unexpectedly In December, with the economy adding 265,000 jobs. 

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. 

This is a breaking news story. Updates to come.