The insured unemployment rate held steady at 1.2% for the week ending December 28, indicating no significant shift in the broader employment landscape. However, the number of insured unemployed rose by 33,000 to 1.867 million, reflecting potential softening in certain sectors. Despite this, the 4-week moving average for insured unemployment dipped by 3,000 to 1.865 million, suggesting a stabilizing trend.
Private Sector Job Growth Falls Short
Private-sector employers added 122,000 jobs in December, according to ADP, undershooting the Dow Jones forecast of 136,000 and declining from November’s 146,000. This marks the smallest monthly increase since August and highlights a deceleration in hiring momentum.
Wages rose by 4.6% on an annual basis, the slowest growth since July 2021. The moderation in pay growth may support the Federal Reserve’s…
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