{"id":277198,"date":"2026-01-10T06:01:15","date_gmt":"2026-01-10T06:01:15","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/277198\/"},"modified":"2026-01-10T06:01:15","modified_gmt":"2026-01-10T06:01:15","slug":"us-economy-undershoots-expectations-to-add-just-50000-jobs-in-december-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/277198\/","title":{"rendered":"US economy undershoots expectations to add just 50,000 jobs in December \u2013 The Irish Times"},"content":{"rendered":"

The US economy added just 50,000 jobs in December, undershooting expectations, in the latest sign that the labour market is cooling after years of strong growth.<\/p>\n

Friday\u2019s figure from the Bureau of Labor Statistics fell short of the 70,000 predicted by economists polled by Bloomberg. However, the unemployment rate unexpectedly fell to 4.4 per cent from November\u2019s 4.6 per cent.<\/p>\n

The data provides the most complete picture of the US jobs market for several months, after the releases for November and October were heavily affected by the government shutdown.<\/p>\n

The November figure was revised down to 56,000 on Friday from an initial reading of 64,000.<\/p>\n

US short-term Treasury yields ticked up slightly after the release of the report, reflecting the lower than expected jobless rate for December. The two-year yield, which tracks expectations for monetary policy, was up 0.03 percentage points to 3.52 per cent.<\/p>\n

The data release adds to evidence of deterioration in the labour market, which has been hit by cuts to the federal government workforce and a slowdown in private sector hiring.<\/p>\n

[\u00a0US unemployment rate hits four-year high of 4.6%Opens in new window<\/a>\u00a0]<\/p>\n

The Federal Reserve<\/a> has cut US borrowing costs at each of its past three meetings, leaving its benchmark target range at a three-year low of 3.5 to 3.75 per cent.<\/p>\n

Fed chair Jay Powell <\/a>signalled in December that the bar to further cuts was high, saying borrowing costs were now \u201cwell positioned\u201d.<\/p>\n

Economists said the surprise fall in unemployment would bolster the case for the US central bank to pause its rate-cutting cycle at its next meeting later this month.<\/p>\n

\"\"Ireland\u2019s record tax take makes light of Trump tariffs fear<\/p>\n

\u201cGoodbye, January! The Fed will likely hold course for now with the labour market showing tentative signs of stabilising,\u201d said Lindsay Rosner, head of multisector fixed income investing at Goldman Sachs Asset Management.<\/p>\n

\u201cWe expect the Fed to remain on hold for now, but still pencil in two cuts for the rest of 2026.\u201d<\/p>\n

The Fed has also raised concerns about the accuracy of recent BLS figures, with Powell arguing that the US economy is adding 60,000 fewer jobs a month than the jobs report claims. \u2013 Copyright The Financial Times Limited 2026<\/p>\n","protected":false},"excerpt":{"rendered":"The US economy added just 50,000 jobs in December, undershooting expectations, in the latest sign that the labour…\n","protected":false},"author":2,"featured_media":277199,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[19360,15852,79,1374,179,18,233,19,17,20472,227,140145,6045,5814,1332,18113,10680,3070,19365,140146,19366,107,1543,80],"class_list":{"0":"post-277198","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-american","9":"tag-americas","10":"tag-business","11":"tag-california","12":"tag-economy","13":"tag-eire","14":"tag-employment","15":"tag-ie","16":"tag-ireland","17":"tag-job-fair","18":"tag-jobs","19":"tag-jobseekers","20":"tag-labor","21":"tag-labor-market","22":"tag-labour","23":"tag-north-american","24":"tag-sacramento","25":"tag-u-s","26":"tag-u-s-a","27":"tag-unemployment-rate-figures","28":"tag-united-states-of-america","29":"tag-us","30":"tag-usa","31":"tag-work"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115869285314591547","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/277198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=277198"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/277198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/277199"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=277198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=277198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=277198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}