According to data from the U.S. Bureau of Labor Statistics, the economy added 256,000 jobs in December, leading to a 4.1% unemployment rate, down from 4.2%.
Economists believe that while prices weigh on consumers, the fact that wages continue growing faster than inflation suggests many remain relatively confident about their financial situations.
Lisa Sturtevant, chief economist at Bright MLS, emphasized that the impact of wage growth on housing markets depends significantly on where new jobs are located and the work-from-home trend.
Despite the positive job growth and wage increases, inflation remains a concern for consumers and the Federal Reserve, particularly looking ahead to 2025.
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