According to the latest data from the U.S. Labor Department, the job market remained strong in December 2022, despite the Federal Reserve increasing interest rates to their highest level in 15 years. The department released its monthly jobs report at 8:30 a.m. ET on Friday. The following are some key points from the report, compared to estimates compiled by Bloomberg:
Non-farm payrolls: +223,000 vs. +202,000 expected
Unemployment rate: 3.5% vs. 3.7% expected
Average hourly earnings, month-over-month: +0.3% vs. +0.4% expected
Average hourly earnings, year-over-year: +4.6% vs. +5.0% expected
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