These three conclusions can be drawn from the most recent data.
- The American economy is doing better than anticipated.
Concern over a possible recession in the biggest economy in the world has been simmering for years.
It has continuously disproved the skeptics, and last month was no different.
The December job growth exceeded the approximately 160,000 economists had predicted by a significant margin: According to the Labor Department, employers created 256,00 new jobs, and the unemployment rate decreased from 4.2% in November to 4.1%.
Last year, 2.2 million new employment were created, or 186,000 every month on average.
Although it was slower than it was a year ago, that number is still rather healthy.
Last month, the average hourly wage increased 3.9% over December 2023.
