U.S. Nonfarm Payrolls Added Only 199,000 Jobs In December
Affected by the epidemic and many Americans leaving the job market, the United States added only 199,000 non-farm jobs in December, which was further weakened from the upwardly revised 249,000 new jobs in November. The unemployment rate fell sharply to 3.9% from 4.2% in November, a 22-month low. Recall that when the epidemic first broke out in 2020, the unemployment rate in the United States was as high as 14.8%, and now it has dropped a lot. For all of 2021, the U.S. added 6.4 million new jobs, the most in a year since records began in 1939. Although the United States has still lost 3.6 million jobs before the epidemic, it is not that there are not enough jobs in the market, but many workers have left their jobs on their own, so I believe the Federal Reserve will not ask for it again until all post-epidemic jobs are filled. Take action to raise interest rates.
