The Labor Department's December jobs report will shed light on the health of the labor market in the final month of 2022 when it is released on Friday.
The economy added 263,000 jobs in November. FOX Business' Cheryl Casone with more.
U.S. job growth in December likely cooled moderately from earlier in the year, but hiring probably remained solid despite growing headwinds from higher interest rates and stubbornly high inflation., which is projected to show that hiring increased by 200,000 last month and that the unemployment rate held steady at 3.7%, according to a median estimate by Refinitiv economists.
That would mark a drop from the 263,000 recorded in November and would be the weakest monthly job growth since December 2020.has been closely watching the reports for signs that the labor market is starting to slow down from its torrid pace as policymakers try to wrestle inflation under control. Although consumer prices have cooled slightly from a peak of 9.1% in June, they still remain about three times above the pre-pandemic average.
The labor market has remained historically tight for most of the year. A separate report released Wednesday showed there were about 10.46 million job openings in November, down just slightly from the 10.51 million reported the previous month. That amounts to about 1.7 jobs per available worker.
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