The US Bureau of Labor Statistics report surprised markets with weaker-than-expected data for December, with the US economy adding only 50,000 jobs , compared to expectations of around 66,000 jobs, and after revising the November reading to 56,000 jobs.
Despite the slowdown in the pace of hiring, the unemployment rate fell to 4.4% , better than market expectations of 4.5%, reflecting a delicate balance between weak employment and a stable labor market.
As for wages, average hourly pay rose by 0.3% month-on-month , in line with expectations, while it recorded annual growth of 3.8% , exceeding market estimates, reinforcing concerns related to inflation resilience.
In contrast, other key sectors, such as manufacturing, construction, energy, transportation, and financial services, saw little change.
This data reinforces the state of anticipation in global markets , as the US labor market is the most important indicator for determining the course of monetary policy of the US Federal Reserve , which is directly reflected in the movements of the dollar, stocks, gold, and digital currencies.
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