NFP - The unemployment rate is stable at 3.7%

2024-01-30
Summary:

December's job report: 216,000 new positions added, maintaining a 3.7% unemployment rate, a significant increase from November's revised 173,000.

NFP (changes in non-farm payroll)


2/2/2024 (Fri)


Previous (Dec):216k Forecast: 173k


December’s jobs report showed employers added 216,000 positions for the month while the unemployment rate held at 3.7%. That was a sizeable gain from November’s downwardly revised 173,000.


October also was revised lower, to 105,000 from 150,000, indicating a slightly less robust picture for growth in Q4. The report showed that inflationary pressures were still prevalent in the labour market.


The data adds to the case that economy continues to defy expectations for a slowdown even after the Fed delivered 11 interest rate hikes from March 2022.

NFP

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