Key Takeaways
U.S. job growth unexpectedly accelerated in December, with nonfarm payrolls increasing by 256,000 jobs, the most since March.
The unemployment rate fell to 4.1% in December, with a decline in the number of people who have permanently lost their jobs and a shortening in the median duration of unemployment.
The upbeat employment report reinforced views that the Federal Reserve would keep interest rates unchanged in January, with financial markets overwhelmingly expecting the Fed to pause on rate cuts.
#PresidentJoeBiden #Jobs #UnemploymentRate #USLaborMarket
To me, this is bittersweet news.
The good news is substantial job gains and a drop in unemployment.
The good news also represents bitter news that we will no longer have because of the incoming felon34 regime.
Per Reuters via Yahoo: