{"id":42330,"date":"2023-01-06T19:58:03","date_gmt":"2023-01-06T19:58:03","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes"},"modified":"2023-01-06T20:10:35","modified_gmt":"2023-01-06T20:10:35","slug":"us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes","title":{"rendered":"US hiring solid while wages cool, giving Fed room to slow hikes"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>US job growth stayed solid last month and the unemployment rate fell while wage gains cooled, indicating a resilient labour market that nevertheless may give room for the Federal Reserve to further slow interest-rate hikes.<\/p>\n

Nonfarm payrolls increased 223 000 in December, capping a near-record year for job growth, a Labor Department report showed Friday. The advance followed a revised 256 000 gain in November.<\/p>\n

Average hourly earnings rose 0.3% from a month earlier and 4.6% from December 2021 after a downward revision to November. The deceleration is likely welcome news for Fed officials, who see wage pressures, particularly in the service sector, as a key hurdle to achieving their 2% inflation goal.<\/p>\n

The unemployment rate decreased by 0.1 percentage point to 3.5%, matching a five-decade low, as participation inched higher. The median estimates in a Bloomberg survey of economists had called for a 203 000 advance in payrolls and for wages to climb 0.4% from the prior month.<\/p>\n

The job gains were led by health care and social assistance, leisure and hospitality, and construction.<\/p>\n

US stock futures rose and Treasuries rallied as investors speculated the easing in wage pressures would lead the Fed to pursue less restrictive policy in the coming months.<\/p>\n

The figures underscore both the enduring strength of the jobs market and how a persistent imbalance between the supply and demand for labor is keeping upward pressure on earnings. That said, the welcome uptick in participation paired with a slowdown in wage growth suggest some of the tightness in the labor market is starting to unwind.<\/p>\n

A sustained deceleration in wage growth could offer some comfort to central bank officials that a key part of the inflation puzzle is losing steam.<\/p>\n

Looking ahead, central bank officials see the unemployment rate rising by about a full percentage point this year, while many other economists predict the US will slip into a recession.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. US job growth stayed solid last month and the unemployment rate fell while wage gains cooled, indicating a resilient labour market that nevertheless may give room for the Federal Reserve to further slow interest-rate hikes. Nonfarm payrolls increased 223 000 in December, capping a near-record year for job growth, a Labor Department […]<\/p>\n","protected":false},"author":84,"featured_media":42328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[274,315,687,2866,275,4259],"class_list":["post-42330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-south-africa","tag-employment","tag-jobs","tag-south-africa-2","tag-us-jobs-data"],"yoast_head":"\nUS hiring solid while wages cool, giving Fed room to slow hikes - South Africa<\/title>\n<meta name=\"description\" content=\"US job growth stayed solid last month and the unemployment rate fell while wage gains cooled, indicating a resilient lab ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US hiring solid while wages cool, giving Fed room to slow hikes\" \/>\n<meta property=\"og:description\" content=\"US job growth stayed solid last month and the unemployment rate fell while wage gains cooled, indicating a resilient lab ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-06T19:58:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-06T20:10:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/01\/postQueueImg_1673022493.07.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"403\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"US hiring solid while wages cool, giving Fed room to slow hikes\",\"datePublished\":\"2023-01-06T19:58:03+00:00\",\"dateModified\":\"2023-01-06T20:10:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/01\/postQueueImg_1673022493.07.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"employment\",\"jobs\",\"South-Africa\",\"us jobs data\"],\"articleSection\":[\"all news\",\"community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/us-hiring-solid-while-wages-cool-giving-fed-room-to-slow-hikes\",\"name\":\"US hiring solid while wages cool, giving Fed room to slow hikes - 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