"The data suggests that businesses are reluctant to add workers even as economic growth has picked up. Many firms hired aggressively after the pandemic and no longer need to fill more jobs. Others have held back due to widespread uncertainty caused by President Donald Trump's shifting tariff policies, elevated inflation, and the spread of artificial intelligence, which could alter or even replace some jobs."
"Nearly all the jobs added in December were in the health care and restaurant and hotel industries. Manufacturing, construction and retail companies all shed jobs. The jobs data are being closely watched on Wall Street and in Washington because they are the first clean readings on the labor market in three months. The government didn't issue a report in October because of the six-week government shutdown, and November's data was distorted by the closure, which lasted until Nov. 12."
Employers added 50,000 jobs in December, nearly unchanged from a revised 56,000 in November, and the unemployment rate slipped to 4.4% from 4.5%. Businesses are reluctant to hire despite pickup in economic growth because many firms hired heavily after the pandemic and no longer need more workers, while uncertainty from shifting tariff policies, elevated inflation, and artificial intelligence dampens hiring. Nearly all December gains were in health care and restaurants and hotels, while manufacturing, construction, and retail shed jobs. Job reports were disrupted by a government shutdown, and annual payroll gains slowed sharply compared with the prior year.
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