U.S. adds 256,000 jobs, as Biden leaves Trump with sturdy labor market
Given that the United States added a startling 256,000 jobs in December and the unemployment rate decreased slightly to 4.1%, President Joe Biden will leave office with a comparatively strong labor market.
Both numbers, which were released by the Bureau of Labor Statistics on Friday, exceeded Wall Street projections and compare favorably to historical averages. According to a Dow Jones survey of analysts, the unemployment rate was predicted to have stayed at 4.2% in December and only 155,000 new jobs would have been created.
When taken separately, the most recent data show that the U.S. economy has mostly succeeded in achieving the "soft landing" scenario that Biden had hoped for: comparatively low unemployment and low inflation.
Even if hiring has significantly slowed over the previous ye...