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U.S. job growth picked up in December and wage gains exceeded expectations, diminishing prospects for an imminent Federal Reserve interest-rate cut.
Nonfarm payrolls increased 216,000 after downward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.7% as the workforce shrank. Average hourly earnings rose 0.4% from a month earlier.
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Despite job openings and increasing unemployment, employers are having a hard time filling roles formerly occupied by non-American workers.
Most workers say they are satisfied with their jobs, but a new survey finds rising anxiety about the labor market, AI-driven job losses and financial stress.
Employers are growing cautious about expanding their staff, while at the same time mostly holding onto their existing workers.
Thousands of government workers that lost their jobs during the Trump administration's cost-cutting crusade are struggling to find work.
Employers who use resources from countries impacted by tariffs are feeling the financial strain.
