The December jobs report shows the economy added a healthy 216,000 jobs in December, finishing a year of solid job growth under the Biden Administration. The unemployment rate held steady November at 3.7 percent. A total of 2.7 million jobs were added to the economy in 2023, and average hourly wage growth rose to 4.1 percent over the prior 12 months, representing an edge over cooling inflation and more spending power for workers. From the Washington Post's coverage:
'In many ways the labor market is at its best place it has been, not only since [before covid], but by some measures in decades,' said Diane Swonk, chief economist at accounting giant KPMG.
Employment in service-based sectors, including government, health care and social assistance, as well as construction, continued to buoy the labor market in December. Government added 52,000 jobs, mostly at the local and federal level, as the sector has finally been able to catch up with the private sector and attract new workers with higher wages." (our emphasis)
You'll observe the Republican / Forced Birth / Shooters party isn't strongly flogging President Biden over false claims of a recession or other economic catastrophe, but rather are counting on our broken media (and some inadequate salesmanship from the Biden Administration and its allies) to push their false doom-and-gloom narrative. Sad for them that 2024 looks like a very good year economically.
