WASHINGTON, USA – US employment increased far less than expected in December amid worker shortages, and job gains could remain moderate in the near term as spiraling COVID-19 cases disrupt economic activity.
Economists polled by Reuters had forecast payrolls would rise by 400,000 and the unemployment rate to dip to 4.1%. “Most Fed officials will conclude that full employment has been reached, and we now expect liftoff in March and four hikes in 2022,” said Andrew Hollenhorst, chief US economist at Citigroup in New York.
“The seasonal factor added about 300,000 less than in the pre-COVID years,” said Jim O’Sullivan, chief US macro strategist at TD Securities in New York. “I’m not saying you necessarily should add 300,000, but it does look like a pretty extreme factor.”. The government surveyed businesses and households for last month’s employment report in mid-December just as Omicron was barreling across the country. The variant’s hit to payrolls could be felt in January.Stocks on Wall Street were mixed.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Source: bworldph - 🏆 9. / 68 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »