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An advance in December's NFP with a slump of 3.5% for the unemployment rate

06 Jan,2023
An advance in December's NFP with a slump of 3.5% for the unemployment rate

The US economy have witnessed job growth that topped predictions for December, employment bounced as the jobless rate eased to 3.5%, yet expectations are hovering around sluggish labour market during the second half of the year.

The nonfarm payroll for December nudged up by 223,000 based on the announcement of the labor department, the figures came a bit lower than November's release at 256,000 and minor edge up above projections at 200,000.

Other key figures like the average hourly earnings slipped a bit while unemployment rate dropped by 3.5% that was revised from 3.6%. That touches an equivalent plunge that exceeds 50 years ago.

The U6 unemployment rate that provide a comprehensive indication of the under-employment rate dropped by 6.5% from 6.7% of the workface.

The released figures indicate that the economy in the U.S. during the last year put on a total of 4.5 million jobs, above the previously added 6.7 million in 2021.

 

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