"US December Jobs Surge Surprises with 216,000 Additions, Sparks Rate Cut Speculation"

The US economy added 216,000 jobs in December 2023, surpassing expectations and maintaining the unemployment rate at 3.7%. Wages rose by 0.4% monthly and 4.1% annually, slightly above forecasts. Despite the positive job growth, the labor force participation rate decreased to 62.5%, and average weekly hours worked slightly declined. Earlier data indicated a balance between worker supply and demand, with job openings at their lowest since March 2021, and wage growth slowing, reducing the risk of a wage-price spiral.