US adds 256,000 new jobs in December, beating estimates
Unemployment in US ticks down to 4.1% in December from November's 4.2%
By Mucahithan Avcioglu
ISTANBUL (AA) - The US added 256,000 new jobs in December 2024, well over expectations, according to Labor Department data released Friday.
Economists had expected an increase of 160,000 in nonfarm payroll employment in the US.
The increase reflects an acceleration from the 227,000 added in November when the labor market rebounded from the impact of Boeing strikes and disruptions caused by hurricanes Helene and Milton.
Sectors driving the growth included health care, government, and social assistance.
Retail trade added jobs in December, following job losses in November.
Payroll employment rose 2.2 million in 2024, an average monthly gain of 186,000, less than the increase of 3 million in 2023, which represents an average monthly gain of 251,000.
The unemployment rate in the US inched down to 4.1%, from 4.2% in November, beating the forecast of 4.2%.
The number of unemployed individuals fell 235,000 to 6.8 million.
Friday’s report reflects the last full month in office of outgoing President Joe Biden, whose tenure has seen record employment gains – over 16 million jobs added since January 2021, according to official figures.
On Jan. 20, Biden is set to be succeeded by incoming President Donald Trump.
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