US unemployment sinks to 3.9% as many more people find jobs

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US unemployment
US unemployment

The United States (US) unemployment rate fell in December to a healthy 3.9% — a pandemic low — even as employers added a modest 199,000 jobs, evidence that they are struggling to fill jobs with many Americans still reluctant to return to the workforce.

The drop in the jobless rate, from 4.2% in November, indicated that many more Americans found work last month. Indeed, despite the slight hiring gain reported by businesses, 651,000 more people said they were employed in December compared with November.

Still, the data reported Friday by the Labor Department reflected the state of the job market in early December — before the spike in COVID-19 infections began to disrupt the economy. Economists have cautioned that job growth may slow in January and possibly February because of the spike in omicron cases, which have forced millions of newly infected workers to stay home and quarantine.

For now, steady hiring is being driven by strong consumer demand that has…



Source: Vanguard Newspaper