Emily Grubert

It does not look like a rapidly growing labor market, but we are expecting decent job gains when the January report is released.

It does not look like a rapidly growing labor market, but we are expecting decent job gains when the January report is released.

And we would expect the unemployment rate ticks down a tenth to 4.3 percent.

And we would expect the unemployment rate ticks down a tenth to 4.3 percent.

I think we need to wait and see before we get overly excited, if I may.

I think we need to wait and see before we get overly excited, if I may.

There's enough headwinds out there that I would be, I'd say caution is warranted.

There's enough headwinds out there that I would be, I'd say caution is warranted.

Yes, this is a jump compared to the previous month, but this is January.

Yes, this is a jump compared to the previous month, but this is January.

We're coming off of the holiday season.

We're coming off of the holiday season.

We're typically in a time of reorders.

We're typically in a time of reorders.

So it's not not totally surprising that we're seeing some uptick in January.

So it's not not totally surprising that we're seeing some uptick in January.

We're also seeing expansion in construction, which, of course, is required to build data centers.

We're also seeing expansion in construction, which, of course, is required to build data centers.

One of the things that is really clear is that the employment rate has not does not seem to to be following growth.

One of the things that is really clear is that the employment rate has not does not seem to to be following growth.