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US job growth still lacklustre

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2 years ago

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http://www.euronews.com/ There was no sign of the pick-up in creation that the US economy needs to recover, in December as the pace of hiring by employers there eased slightly.

Payrolls outside the farming sector grew by just 155,00 last month, just below November’s increase.

gains were distributed broadly throughout the economy, and were strongest in manufacturing and construction.

The jobless rate, which started to ease down in August, held steady at 7.8 percent of the workforce in December, the same as November as that month’s figure was revised up by the US Labor Department.

It is down nearly one percent from a year earlier, but remains well above the average rate over the last 60 years of about six percent.

“This shows the economy is chugging along, with payroll gains at about the average it has been over the past year,” Tom Porcelli, an economist at RBC Capital Markets in New York.

The good news is that layoffs are declining, and the number of people signing on for unemployment benefit last month was near a four-year low.

But most economists expect the US economy will be held back this year by tax increases and weak spending by households and businesses.

A wave of government spending cuts is due to begin around March, however many economic forecasts assume the cuts – which would hit the military, education and other areas – will ultimately be pushed into next year as part of a deal sought by lawmakers to gradually reduce the government’s debt burden.

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Latest news bulletin | July 5th, 2026 – Morning

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July 17, 2026

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Latest news bulletin | July 5th, 2026 – Morning

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

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July 17, 2026

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

Routine border checks between Spain and Gibraltar have ended, allowing thousands of daily commuters to cross more easily. While many welcome shorter journeys and greater freedom, others remain cautious about the long-term impact.

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

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3 hours ago

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July 17, 2026

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

Cyprus says the EU’s appointment of Raffaele Fitto as special representative for the divided Mediterranean territory will support reunification efforts, but Turkish Cypriot leadership has blasted the move as biased and putting strain on efforts to improve EU-Turkey relations.

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Latest news bulletin | July 6th, 2026 – Morning

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July 17, 2026

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Latest news bulletin | July 6th, 2026 – Morning

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‘Food insecurity is on the increase’, World Food Programme Director says

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July 17, 2026

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‘Food insecurity is on the increase’, World Food Programme Director says

Conflict in Lebanon has “hit humanitarian operations” worldwide, says WFP Executive Director Carl Skau. “In the poorest countries, people are now eating less” as rising costs have reduced aid deliveries and disrupted supply chains.

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