US job growth slows in December
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The news: The US economy added just 50,000 jobs in December, undershooting expectations and reinforcing observations that the labour market is cooling.
The numbers: US nonfarm payrolls increased 50,000 in December while the unemployment rate eased to 4.4%, according to new data from the Bureau of Labor Statistics (BLS) published Friday.
The figures came in below the 73,000 new jobs that economists surveyed by The Wall Street Journal had expected to see, and was weaker than the revised 56,000 jobs added in November. Job losses in October were also revised down, to a fall of 173,000.
The BLS said that payroll employment rose by 584,000 in 2025, an average monthly gain of 49,000. This was less than the increase of 2 million new roles added in 2024, which amounted to an average monthly gain of 168,000.
The context: The data provided a key picture of the US labour market, after the data releases for October and November had been affected by the US government shutdown.
The healthcare and leisure and hospitality sectors saw job growth trend up in December, while headcount across the retail, construction and manufacturing sectors fell.
After the data was released, traders maintained expectations that Federal Reserve policymakers will hold rates steady at their upcoming January meeting.
The sources: Bureau of Labor Statistics, Bloomberg, Reuters, WSJ
