Earnings and New Jobs , Increased More Than Expected in , December.
On January 5, the Labor Department released
a report showing that America's job market closed
2023 with a greater-than-expected pace of hiring.
On January 5, the Labor Department released
a report showing that America's job market closed
2023 with a greater-than-expected pace of hiring.
CNBC reports that the December
jobs report showed that employers
added 216,000 positions for the month.
CNBC reports that the December
jobs report showed that employers
added 216,000 positions for the month.
Over the same time,
the unemployment rate
remained at 3.7%.
Over the same time,
the unemployment rate
remained at 3.7%.
Payroll growth showed a considerable increase
next to November's downwardly revised 173,000. .
Previously, economists predicted payrolls
to increase by 170,000, while the unemployment
rate was expected to inch higher to 3.8%.
Previously, economists predicted payrolls
to increase by 170,000, while the unemployment
rate was expected to inch higher to 3.8%.
CNBC reports that a more comprehensive
assessment that includes discouraged workers
and those with part-time jobs increased to 7.1%.
The higher unemployment rate comes after a household
survey, used to determine the actual unemployment
rate, showed a drop in job holders of 683,000.
At the same time, the overall labor force
participation rate fell to 62.5%, reaching its lowest
since February and down 676,000 month-over-month.
According to the latest Labor Report,
job gains in 2023 were at 2.7 million,
with a monthly average of 225,000.
CNBC reports that markets reacted negatively to
the latest Labor Department report, sending stock
market futures down and Treasury yields higher.
CNBC reports that markets reacted negatively to
the latest Labor Department report, sending stock
market futures down and Treasury yields higher