The Trump administration spent recent days warning markets to brace for a terrible January jobs report, which seemed plausible since the administration has deported a lot of the people who drove job creation over the past four years, and early private-sector employment data was grim . Instead, the administration’s closely watched first jobs report of 2026 surprised very much to the upside, with a whopping 130,000 net jobs created in January. That’s better than in any month last year and almost