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WSJ Opinion: Potomac Watch

The January Jobs Numbers Exceed Expectations

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.22.8K Ratings

🗓️ 12 February 2026

⏱️ 20 minutes

🧾️ Download transcript

Summary

The January jobs report shows a rebound in the labor market after a lousy 2025. Will it continue, and what does it say about the prospects for growth in this election year? Plus, the U.S. House stages a bipartisan revolt against Donald Trump’s tariffs on Canada.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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on August 2025 proprietary survey among real estate professionals from the

0:33.4

opinion pages of the Wall Street Journal this is is Potomac Watch. Are we in an economic golden age?

0:42.0

And if we are, why do Americans say they feel like it's more of a bronze age? The economic numbers

0:49.3

look good if you listen to government statistics, but Americans don't seem to feel it. So what is going on

0:56.5

in the American economy? That's our subject today on Potomac Watch. I'm Paul Giego here on the

1:03.0

daily podcast of Wall Street Journal Opinion, and I'm here with two of my colleagues who are

1:07.5

economy watchers, Joe Sternberg and Alicia Finley.

1:11.1

So there was some good statistical news on Wednesday.

1:14.9

Delayed jobs report for the month of January, delayed due to the backup at the agency because of the autumn government shutdown.

1:23.2

But it showed that January job growth was much better than economists had expected.

1:29.3

130,000 net new jobs in the month, even better, 172,000 or so in the private economy,

1:37.2

thanks to a 42,000 job reduction in government hiring.

1:42.4

That's how you get to 130.

1:44.0

Let's listen to Kevin Hassett,

1:45.9

the White House economic czar, talk about the results.

...

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