New Jobs Report Indicates A 'strong Economy' That Is 'more Resilient Than Anticipated,' According To Experts

The U.S. Bureau of Labor Statistics released its "Employment Situation Summary" study for December connected Friday, and nan findings "underscored that this is simply a beardown economy," says Elyse Ausenbaugh, caput of finance strategy astatine J.P. Morgan Wealth Management, successful a relationship to Entrepreneur.

The study showed that nan U.S. strategy added 256,000 caller jobs successful December, nan astir since March, while unemployment fell somewhat to 4.1%. The number of jobs added was supra connection expectations for a 165,000 gain, EY elder economist Lydia Boussour told Entrepreneur successful a abstracted statement.

Employment was up successful industries for illustration healthcare and retail, which added 46,000 jobs and 43,000 jobs successful December respectively.

The unemployment title has remained dependable astatine either 4.1% aliases 4.2% for nan past 7 months, pinch 6.9 cardinal group retired of activity successful December. The number of group who personification been unemployed for astatine slightest six months is 1.6 million, up by 278,000 from nan aforesaid clip past year, according to nan report.

Related: 'Really Hard to Find a Job': 1.7 Million Job Seekers Have Been Looking for Work for astatine Least 6 Months

The strategy gained 2.2 cardinal jobs wide successful 2024, which made it "more resilient than anticipated," according to Boussour, but nan summation was small than nan 3 cardinal jobs added successful 2023.

Ausenbaugh stated that Friday's business study dampens nan imaginable of a title trim astatine nan adjacent less meetings of nan Federal Open Market Committee (FOMC). The adjacent gathering is connected January 28 and 29.

"The accusation underscored that this is simply a beardown strategy that doesn't presently petition meaningful further argumentation easing to spot its explanation persist," Ausenbaugh asserted.

"The 'x-factors,' of course, are nan coming twists and turns related to discarded and acquisition policy, geopolitics, and authorities efficiency," she added.

Related: The Fed Just Cut Rates for nan Third Time This Year. Here's How It Will Affect Mortgage Rates, According to a 40-Year Veteran of nan Real Estate Industry

Boussour's comments agreed pinch Ausenbaugh's.

"Overall, this study should comfortableness nan Fed that a region successful nan rate-cutting hit is appropriate," Boussour stated.