The US labor market ended 2024 on a high note, adding 256,000 jobs in December, above the forecast of 164,000, with unemployment unexpectedly dropping from 4.2% to 4.1%.
In a press conference after the December meeting, Fed chair Jerome Powell stated, 'the labor market is now looser than pre-pandemic' and emphasized that 'further cooling isn't needed to reach the Fed's 2% inflation target'.
Economists expect the job market in 2025 will present challenges for job seekers, as employers are likely to be cautious in their hiring plans early in the year.
Dante DeAntonio, a labor economist with Moody's Analytics, noted, 'While business sentiment has picked up somewhat since the election, there is still a lot of uncertainty about future policy changes'.
Collection
[
|
...
]