Institution: Employment data doesn't seem that hot

ChainCatcher news, according to Jinshi reports, LPL Financial analyst Jeffrey Roach stated that the average monthly job growth in the U.S. private sector in 2024 is expected to be 149,000, down from 192,000 in 2023, with a further decline anticipated in 2025. In December, non-farm payrolls surged by 256,000, and the unemployment rate slightly decreased (against the backdrop of potential mass deportations of illegal immigrants), raising concerns that the Federal Reserve may even need to raise interest rates. However, the data may be more optimistic than it appears.

Roach said, "More than 16% of the non-labor force is foreign-born, including undocumented immigrants, so tightening immigration policies may not be as harmful to the economy as some suggest." "Meanwhile, the Federal Reserve will keep interest rates unchanged."