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Surging job market could prove costly for households, businesses as odds of quick rate cuts fade
- U.S. job growth surged and unemployment fell last month, an unexpected show of strength that may prove costly to homebuyers and businesses who were counting on sharply lower interest rates to lower the cost of buying everything from refrigerators to homes.
- U.S. markets tumbled on the release of December's jobs numbers as investors sensed the odds of further interest rate cuts have faded.
- Mortgage rates have risen for four consecutive weeks to reach the highest level since July.
- The final jobs report of 2024 underscores that the economy and hiring were able to grow at a solid pace even with interest rates much higher than they were before the pandemic.
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30 Articles
30 Articles
Surging Job Market Could Prove Costly for Households, Businesses as Odds of Quick Rate Cuts Fade
WASHINGTON — U.S. job growth surged and unemployment fell last month, an unexpected show of strength that may prove costly to homebuyers and businesses who were counting on sharply lower interest rates to lower the cost of buying everything from refrigerators to homes. Employers added 256,000 jobs last month, up from 212,000 in November, the Labor Department reported Friday. Unemployment, which was expected to hover around 4.2%, fell to 4.1% las…
Coverage Details
Total News Sources30
Leaning Left5Leaning Right2Center17Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 21%
C 71%
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