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US hiring beats expectations, unemployment edges down

2025-01-10 HKT 22:47
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  • The latest report marks a solid end to 2024 for the US jobs market. Photo: AFP
    The latest report marks a solid end to 2024 for the US jobs market. Photo: AFP
US job gains soared past expectations in December, according to government data released on Friday, in a sign that the labour market remains healthy just shortly before President-elect Donald Trump's inauguration this month.

Hiring in the world's biggest economy was 256,000 last month, up from a revised 212,000 in November, said the Labour Department.

The jobless rate crept down to 4.1 percent from 4.2 percent.

The latest report marks a solid end to 2024 for the jobs market, which has held up in the face of elevated interest rates, allowing consumers to continue spending.

But Trump's return to the White House this month could bring uncertainty.

He has pledged to raise tariffs on imports and deport undocumented immigrants – many of whom are a part of the US labour force including in areas like agriculture.

In December, average hourly earnings picked up 0.3 percent from the month before to US$35.69.

From a year ago, wages were up 3.9 percent.

Labour market resilience and continued wage growth support consumption, a key driver of the US economy. (AFP)

US hiring beats expectations, unemployment edges down