U.S. Jobs Report Shows Record Annual Gain
Hiring slowed in December to 199,000 new jobs, the Labor Department said Friday, while the U.S. added a record number of positions in 2021. The jobless rate declined to 3.9%.
Friday’s jobs report captures hiring activity that occurred before the Covid-19 Omicron variant spread rapidly in late December. Though the variant has taken a toll on some businesses’ revenue, many employers are clinging to the workers they have as consumers continue to spend. Jobless claims, a proxy for layoffs, clocked in at 207,000 last week, near the lowest level in five decades.
