The U.S. economy added 256,000 jobs last month - the most since March 2024 and about 100,000 more than economists had expected, reflecting strong recovery.
Goolsbee remarked, "I have more confidence that the job market is not deteriorating. I have more comfort now that we did stabilize and this time is quite different than previous business cycles."
Average hourly earnings rose 0.3% in December and have increased by 3.9% over the previous 12 months, signaling healthy wage growth.
The unemployment rate ticked down to 4.1% from 4.2%, suggesting that recession jitters may have been a head fake, showing resilience in the job market.
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