Quote from Ndubuisi Ekekwe on January 6, 2023, 12:22 PM

In 2022, U.S. employers added 4.5 million jobs, the second-highest number on records dating back to 1940. That is a super-breaking record.

U.S. payrolls jumped by 223,000 in December, beating economists’ expectations for a ninth straight month, as the labor market showed continued resilience in a slowing economy. The unemployment rate also fell to 3.5%, from 3.6% in November, the Labor Department said. Meanwhile, hourly earnings rose 4.6% from a year earlier, after a revised 4.8% in the prior month. Slowing wage growth suggests inflation may also be easing, which in turn could temper aggressive interest-hikes by the Federal Reserve.