According to figures issued on Friday by the Bureau of Labor Statistics, the US economy added 216,000 jobs in December, exceeding forecasts and rounding off a year of resilience in the labor market. 3.7% was the unemployment rate that persisted. The unemployment rate was predicted by economists to rise to 3.8% and for December to see net job additions of 160,000. The job market’s sustained strength has supported consumer spending and economic expansion. Despite the eleven rate hikes the Federal Reserve has made in the last two years to combat inflation, it has stayed strong. For a long time, Federal Reserve Chair Jerome Powell has issued warnings that the labor market needs to slow down from its frantic speed and improve the match between the number of jobs available and the number of.
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