Job growth in December came in at 216,000 versus the 170,000 expected and was the 36th consecutive month of gains. Within the numbers, it shows that October and November were revised considerably lower. The Labor Force Participation Rate rose while the U6 number, or total unemployed, inched higher.
Also, a large portion of the jobs created were government and government-related jobs such as healthcare and social services.
The takeaway... it still looks as if the Federal Reserve is on course to continue to hold rates at current levels and eventually cut rates this year. And with the rate of inflation slowing and borrowing costs falling, 2024 could usher in a healthy housing market.
