Employers in the United States accelerated hiring in December, adding 216,000 workers to their payrolls. The unemployment rate was a very low 3.7 percent. Wages increased at a faster than expected rate.
The much-better-than-expected surge in employment puts pressure on the Federal Reserve to hike again at its two meeting that starts on the final day of October.
Economists had forecast the economy would add around 170,000 jobs, with the range of forecasts in the Econoday survey running from 40,000 to 190,000.
Economists had forecast the economy would add around 200,000 jobs,
Jobs numbers disappoint for June, coming in below expectations for the first time in over a year.
And how can the rise in unemployment be reconciled with the huge job gains?
The U.S. economy added 339,000 jobs in May and the unemployment rate rose to 3.7 percent, the Labor Department said Friday. Economists had forecast employers would grow payrolls by 190,000, a downturn from the preliminary April estimate of 253,000. The unemployment rate was expected to pick up to 3.5 percent from 3.4 percent.
A huge surge in hiring in January defied expectations for the labor market to cool off a bit in the new year.
Economists had expected the economy to add 298,000 jobs and the unemployment rate to hold steady at 3.5 percent.
Economists had expected 258,000 jobs for July.
The median forecast of analysts was for 740,000 jobs and an unemployment rate of 5.2 percent.
Economists had forecast around 845,000 jobs.
Economists had forecast an addition of 50,000 jobs and a slight rise in the unemployment rate to 6.8 percent.
Economists had forecast 894,000 jobs and a decline in the unemployment rate to 8.2 percent.
Economists had expected the U.S. to add 158,000 jobs.
The imaginary recession of 2019 is over.
African American unemployment fell to the lowest level on record.
The June jobs report showed the American labor market making a strong rebound after a stumble in May.
Economists had expected the pace of job creation to moderate to 180,000 after April’s extremely hot 263,000.
