The US added 199,000 jobs in December, and the unemployment rate fell to 3.9%

US employers added 199,000 jobs in December 2021, with the unemployment rate falling by 0.3 percentage point to 3.9 per cent, the Labour Department reported. The job growth is far below the expectations of economists.

The US added 199,000 jobs in December, and the unemployment rate fell to 3.9%, marking a new pandemic era low. But Omicron could still slow the recovery.

The country averaged 537,000 jobs added per month in 2021, making for one of the best years for the labor market in *US history*. Wages also grew markedly in 2021 as record numbers of Americans quit their jobs to find better pay and benefits.

What people are saying?

Jeremy M There’s no shortage of workers. Employers just don’t feel supply and demand applies to their labor practices. Raise wages and poof suddenly the “shortage” disappears.

M.D. Stone Labor participation rate is what is important, the unemployment rate is calculated in a way which doesn’t factor in those who voluntarily resigned from their jobs or have been long term unemployed.