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Is the US job market stabilizing after recent disruptions
Description
Job growth in the U.S. economy is expected to rise as the new year begins. In December, the U.S. added approximately 153,000 jobs, showing recovery after recent disruptions caused by hurricanes and a Boeing strike. Economists anticipate the unemployment rate will remain low at 4.2%. Hiring appears solid but is slowing compared to the previous two years, with job creation predicted to decrease from 3 million in 2023 and 7.2 million during the post-COVID economic rebound. Increased borrowing costs have not deterred hiring, and overall economic growth has remained steady. Average hourly wages increased by 0.3% in December, contributing to an annual rise of 4%, aligning with the Federal Reserve's inflation targets.
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