Summary
The job market showed slow progress at the end of a year marked by disappointing employment gains. In December, 50,000 jobs were added, and the unemployment rate decreased slightly to 4.4%. Businesses seemed cautious about hiring, possibly due to economic uncertainty and technology changes.
Key Facts
- Employers added 50,000 jobs in December.
- November's job gains were revised to 56,000.
- The unemployment rate decreased to 4.4% in December from 4.5% in November.
- Layoffs have been low, with unemployment benefits applications dropping below 200,000.
- Businesses appear hesitant to hire due to economic uncertainty.
- Factors affecting hiring include changing tariff policies, inflation, and the impact of artificial intelligence.
