WASHINGTON: US job gains exceeded expectations in December while the unemployment rate ticked down, a closely-watched government report said Friday (Jan 6), signaling resilience in the labor market despite efforts to cool the economy. The jobs market has emerged as an area of concern as the Federal Reserve
WASHINGTON: US job gains exceeded expectations in December while the unemployment rate ticked down, a closely-watched government report said Friday , signaling resilience in the labor market despite efforts to cool the economy.
While unemployment is typically expected to edge up as interest rates rise, the jobless rate defied expectations as well, dipping to 3.5 per cent. But it added that employment in the leisure and hospitality sector still"remains below its pre-pandemic February 2020 level".
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