Hassett: Be Prepared for Low Employment Figures

Expectation of Low Employment Figures in the Economy

In a statement made on CNBC, Hassett evaluated the current state of the economy, saying, "The reality is that with high GDP growth, you should expect the labor figures to be a bit lower. If you see numbers that are lower than you’re used to, don’t panic; because population growth is slowing down and productivity growth is rising rapidly."

January Employment Report Expectations

The January employment report, which is scheduled to be released on Wednesday, is expected to show that employers will create 69 thousand new jobs. The unemployment rate is projected to remain stable at 4.4%. Additionally, the report will include employment adjustments covering the period until March 2025.

Comparison with the Biden Administration

Hassett also noted that the break-even rate in the labor market is considerably lower compared to the period of former President Joe Biden.