December Jobs Report: Labor Market Grew Faster Than Expected As Unemployment Clocks In At 4.1%
Posted: Jan 10, 2025
- U.S. added 256,000 jobs in December, beating estimates
- Unemployment rate was 4.1%
- Average hourly wages increased by 0.3% to $35.69
- October job growth revised upward by 7,000, November downward by 15,000- December jobs report shows strong job growth, with 256,000 jobs added in December
- Unemployment rate at 4.1%, lower than expected
- Average hourly wages increased by 0.3% to $35.69
- U.S. companies announced the second-most job cuts since 2009 in 2024
- Job growth in 2024 was strong, but some companies are planning layoffs, like BlackRock and Microsoft
- Last jobs report before President-elect Donald Trump succeeds Joe Biden
- Federal Reserve expects fewer rate cuts in 2025 due to stable labor market and concerns about inflation
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - The comments reflect concern over the impact of a strong jobs report on stock markets, potentially leading to less favorable monetary policy like rate cuts. There is a mix of humor and skepticism regarding economic conditions, leaning towards negative sentiment about stock prices and monetary policy. Summarized comments: - Commentary on the 4.1% unemployment rate suggests humor about Reddit users being part of it. - Speculation that rates will not decrease due to potential tariff implications and market expectations. - Concerns about jobs market strength affecting stock performance negatively in pre-market trading. - Satirical remarks about the wealthy reacting to the employment increase by selling stocks. - Discussion about the unemployment rate being ideal but conflicting with market expectations for rate cuts. - Questioning the quality of the new jobs being created, not just the quantity.
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