US EditionSurging 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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Associated Press News+18 Reposted by 18 other sources
Surging job market could prove costly for households, businesses as odds of quick rate cuts fade
U.S. hiring picked up unexpectedly in December as employers added 256,000 jobs, another sign of the economy’s resilience in the face of high interest rates.
·United States
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Total News Sources30
Leaning Left4Leaning Right1Center14Last UpdatedBias Distribution74% Center
Bias Distribution
- 74% of the sources are Center
74% Center
L 21%
C 74%
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