US Jobs Report - 199,000 Jobs Added in December
According to the Labor Department, the US economy added a modest 199,000 jobs in December, demonstrating that employers are still having difficulty filling positions as many Americans continue to be reluctant to return to the workforce.
Concerns over inflation, a labor shortage and yet another surge in Covid cases may have contributed to the sluggish growth.
Despite some of these concerns, unemployment dropped down to 3.9%, the lowest it has been since the start of the pandemic and 0.3% lower than last month.
Overall, despite the mixed results, the US economy still looks to be heading in the right direction as consumer spending and business purchases in the final three months of 2021 have likely propelled the annual growth rate to about 7%.
Photo Credit: Gerd Altmann