December's US employment data blew past expectations with the Bureau of Labor Statistics (BLS) reporting an addition of 256,000 jobs in the month this morning, while economists were originally forecasting a gain of only 165,000 nonfarm payrolls. Additionally, the unemployment rate unexpectedly slid lower to 4.1%, while average hourly earnings ticked down to 3.9%.
In Washington, DC, Yahoo Finance senior reporter Jennifer Schonberger is joined by US Department of Labor Acting Secretary Julie Su to discuss the latest labor print. Su asserts that "these numbers demonstrate continued really steady, stable job growth" while the labor force participation rate also remains consistent as Americans search for employment longer than expected.
Su comments on the Biden administration's cooperation with aiding the incoming Trump administration in its transition. President-elect Donald Trump has nominated former Rep. Lori Chavez-DeRemer (R-Or.) as his cabinet's labor secretary.
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This post was written by Luke Carberry Mogan.