Nausheen Thusoo
The U.S. has reportedly added 216,000 jobs during December, according to the Bureau of Labor Statistics’ most recent data on nonfarm payrolls. The data reported on Friday saw an upscale in the number of jobs added in December as compared to 199,00 jobs in November.
Hotter-than-expected labor market might keep rates steady
The U.S. nonfarm payrolls data suggests more jobs have been added in December, beating the expectation of economists polled by Reuters. Economists had expected an average of 170,000 jobs being created in December. The report by the Bureau of Labor Statistics also suggested that the unemployment rate was unchanged at 3.7%.
With the labor market holding up, perhaps the U.S. Federal Reserve will still need to stress the message of keeping the rates a bit longer than what the market has already priced in.
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