A stabilizing US labor market may leave room for the Federal Reserve to hold rates steady.

Foreign media commentary on the non-farm payroll report pointed out that US non-farm payrolls grew faster in January, with 130,000 new jobs added, far exceeding expectations, while the unemployment rate fell to 4.3%. This is a sign of a stabilizing labor market, which may give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation. Part of the better-than-expected job growth was due to seasonally sensitive industries such as retailers and delivery companies hiring fewer holiday workers last year. January is typically the month with the highest concentration of holiday-related layoffs. Given the seasonally weak hiring, the scale of layoffs may also be smaller, thus boosting job growth. Despite the increase in non-farm payrolls in January, the labor market remains sluggish, struggling even with strong economic growth. Anxiety about employment and high inflation has weakened public satisfaction with Trump's economic policies. (Jinshi)