The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday.
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December’s jobs report showed employers added 216,000 jobs for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain from November’s downwardly revised 173,000.
Economists surveyed by Dow Jones had been looking for payrolls to increase 170,000 and the unemployment rate to nudge higher to 3.8%.
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Markets reacted negatively to the report, with stock market futures sliding and Treasury yields sharply higher.
This is a developing story. Please check back for updates.















