In December 2024, U.S. private businesses added 122,000 jobs, marking the smallest gain in four months and falling short of analysts' expectations of 140,000.
Healthcare continued to drive employment growth, maintaining its leadership in job additions. Leisure and hospitality added 22,000 jobs, reflecting a steady recovery in consumer-facing industries. In contrast, manufacturing faced challenges, losing 11,000 jobs for the third month, signaling ongoing difficulties in the sector.
Table 1: Monthly Jobs Data Comparison (2024), Reuters
Key economic indicators to monitor include Federal Reserve policy, with upcoming meetings and statements offering insights into monetary direction and its impact on market liquidity and interest rates. Inflation data remains critical, influencing purchasing power, corporate profit margins, stock valuations, and bond yields. Additionally, shifts in consumer spending, a key driver of economic growth, could indicate changes in economic momentum and impact various market sectors.
Source: ADP
President Trump imposed new tariffs, including a 10% base rate and higher levies on key trading partners.
DetailHiring, separations, and quits remain stable as the labor market shows resilience.
DetailOutput slips, hiring stagnates, and cost pressures mount as policy uncertainty weighs on factories.
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