The U.S. January non-farm report may see a record revision, with the labor market facing stagnation risks

According to Jin Ten's report, institutional analysis indicates that the U.S. non-farm payroll report for January, expected to be released on Wednesday, will reveal the extent of the slowdown in the labor market, potentially showing no fundamental growth. Preliminary estimates suggest that the annual employment data through March 2025 will be revised down by a record 911,000 people, and this revision is expected to significantly lower the pace of job growth. Scott Anderson, chief U.S. economist at the Bank of Montreal, stated that the current labor market is at a critical point between net job growth and potential job shrinkage.