Job Growth Slowed at Year End. Why the Fed Needs to Be on Alert.
The Bureau of Labor Statistics is set to release the latest employment data for December on Friday at 8:30 a.m. Eastern time. Economists surveyed by FactSet expect 153,000 jobs were added to the labor market in December, though the Bloomberg consensus estimate is a bit higher, at 165,000 positions added. But either forecast, if correct, would represent a significant slowdown from the previously reported 227,000 net new payroll additions recorded in November.
Employment growth has proved volatile in recent months. Labor strikes and hurricanes affected the autumn months and seasonal headwinds came into play at the end of the year, when employers are typically more focused on year-end tasks, writes Citi economist Veronica Clark.
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