The December jobs report painted a confusing picture, economists say. On one hand, the economy added fewer jobs than expected last month — but the unemployment rate fell to 3.9% from 4.2%.
The December jobs report released Friday presented a confusing picture, say economists. On one hand, the U.S. economy added a fewer-than-expected 199,000 jobs last month, while on the other hand, the unemployment rate fell to 3.9% from 4.2%.Economists surveyed by the Wall Street Journal had expected a gain of 422,000 jobs. The unemployment rate was forecast to slip to 4.1%.
Below are initial reactions from economists as U.S. stocks DJIA, -0.01% SPX, -0.41% were lower in the wake of the report. The yield on the 10-year Treasury note TMUBMUSD10Y, 1.767% moved higher, briefly touching 1.77% before retreating. Federal Reserve Chairman Jerome Powell will provide his view of the data on Tuesday when he testifies to the Senate Banking Committee. That panel is considering his nomination for a second four-year term.
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