Payroll growth decelerated in December but was still better than expected, a sign that the labor market remains strong even as the Federal Reserve tries to slow economic growth.
Wage growth was less than expected in an indication that inflation pressures could be weakening. Average hourly earnings rose 0.3% for the month and increased 4.6% from a year ago. The respective estimates were for growth of 0.4% and 5%. Stock market futures rose following the release as investors look for signs that the jobs market is cooling and taking inflation lower as well.
Primarily, the Fed is looking to bridge a gap between demand and supply. As of November, there were about 1.7 job openings for every available worker, an imbalance that has held steady despite the Fed's rate hikes. The strong demand has pushed wages higher, though they mostly haven't kept up with inflation.
Never trust this numbers they faked it last time.
I don’t know how this is possible when nobody wants to work and every business I talk to or deal with daily have been struggling with staff shortages
Morning_Joe Bureau of National Statistics has lost all credibility. Philadelphia Federal Reserve audited the Bureau's claim that 1 million jobs were 'created' in Q2 of 2022 and found only 10,000 jobs were created. Biden regime is cooking the books! Shocker.
Morning_Joe Real wages (inflation adjusted) fell approx 2.5% past 12 mo. Americans continue to get crushed by Bidenflation
Morning_Joe And once again all this talk on job and wage growth and inflation NOT one word causing of inflation due to Corporate price Gouging /profits - its not due to more jobs or heaven forbid workers getting raises Conundrum = when you dont say price gouging is the cause of inflation
Morning_Joe SRuhle is a comic book character, or better yet, sitcom part.... using *robust*.🙂 Next Up: Tune in to watch Rep. Boebert on 11th Hour.
Morning_Joe When will the Anti-American Republican Party get their act together so they can start sabotaging the Biden economy?
I love how you Biden haters are looking for reasons why the jobs numbers are wrong and insignificant. The same criteria are used as when Trump was President so stop being hypocrites 🤬
three jobs to survive is nothing to celebrate also temp holiday jobs explain the gain
How can we not add jobs when we are trying to cut the china manufacturing cord! Someone explain!
Got recession pundits 🤔
Wage growth slow and hours worked decline, signs of recession
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