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U.S. Job Growth Slows, But Productivity Rises

2/10/2026

Summary

Story summary

Kevin Hassett, White House economic adviser, says U.S. job gains may slow as population growth declines and productivity rises.
He notes average monthly payroll growth has fallen from pre-pandemic levels.
Hassett says the slower payroll pace should not spark panic because productivity is rising.
The January report is expected to show 69,000 jobs and 4.4% unemployment, aligning with Federal Reserve Chair Jerome Powell's view of a complex labor market.

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Story summary

Kevin Hassett, White House economic adviser, says U.S. job gains may slow as population growth declines and productivity rises.
He notes average monthly payroll growth has fallen from pre-pandemic levels.
Hassett says the slower payroll pace should not spark panic because productivity is rising.
The January report is expected to show 69,000 jobs and 4.4% unemployment, aligning with Federal Reserve Chair Jerome Powell's view of a complex labor market.