December job growth slows, marking end to tepid hiring year |
| The Labor Department published its December job report on Friday, revealing that American employers added a seasonally-adjusted 50,000 jobs, while the unemployment rate fell to 4.4%. Economists surveyed by the Wall Street Journal had expected 73,000 new jobs to be added. Losses for October and November were revised down, meaning employment was 76,000 lower than previously reported in those two months. Job gains in December were largely driven by food services, health care and social assistance, with losses concentrated in retail trade and manufacturing. Average hourly earnings increased 3.8% from a year earlier to $37.02. “It’s fair to say that 2025 was a hiring recession in the United States,” commented Heather Long, chief economist at Navy Federal Credit Union. “The United States is experiencing a jobless boom where growth is strong, but hiring is not. It’s a great scenario for Wall Street, but an uneasy feeling on Main Street.” |
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