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Economy Adds 223,000 Jobs in December

This reflects resilience in the job market

In December 2022, the U.S. economy added 223,000 jobs, even as some industries are experiencing a slowdown, reflecting the unusual forces at work in the post-pandemic labor market that is both resilient and cooling.

Additionally, the unemployment rate inched down to 3.5 percent, according to the latest data from the Bureau of Labor Statistics, hovering near longtime lows.

December marked the 24th straight month of robust, often sizzling job growth that shifted the balance of power in the labor market, giving workers more options to seek better jobs and higher wages. Bigger companies with deeper pockets often had the upper hand in this dynamic, but as the economy cools, the dynamic is changing.

Please select this link to read the complete article from The Washington Post.

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