Stronger-than-expected job growth signals steady economic resilience, extends horizon for likely next rate cut
Tagged: unemployment
Uptick in unemployment could boost odds of Fed rate cut
June's job report released
Housing market expected to see delayed boost from lower mortgage rates.
Robust job growth surpasses expectations, marking a strong finish for the labor market in 2023, while the Federal Reserve hints at no further interest rate hikes.
ADP's National Employment Report reveals continued job growth, with December figures exceeding estimates and revising November numbers down slightly.
Construction sector remains flat.
Leisure and hospitality sectors lead the surge, but transportation and warehousing see sluggish growth; economists warn of potential impact on lending activity.
Large establishments lose 83,000 jobs, offsetting August's gains.
Health care and construction industry lead in job growth.