Surge in Nonfarm Payrolls
The US labor market closed December with a strong performance, as nonfarm payrolls rose by 216,000, significantly outpacing the pre-report estimate of 168,000. This notable increase reflects a robust and active job market.
Unemployment Rate Remains Steady
Contrary to expectations of a slight increase to 3.8%, the unemployment rate held firm at 3.7 percent. This stability, amidst substantial job additions, paints a picture of a resilient labor market.
Employment Growth Across Key Sectors
Job gains were prominent in government, health care, social assistance, and construction sectors. Conversely, transportation and warehousing sectors…
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