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US job growth picked up in December, and wage gains exceeded expectations, further diminishing prospects for an imminent Federal Reserve interest-rate cut, Bloomberg News reported.
The unemployment rate held at 3.7% as the workforce shrank. I Photo: U.S. Department of Labor Facebook
The unemployment rate held at 3.7% as the workforce shrank. Average hourly earnings rose 0.4% from a month earlier.
The advance in payrolls was led by health care, government, construction, and leisure and hospitality. However, it’s taking longer for unemployed Americans to find work, and the number of full-time employees dropped by the most since April 2020.
