Investment Updates
New Jobs Data Bolsters Hopes For 2024 Economy
Published Friday, December 8, 2023 at: 7:57 PM EST
The economy shows no sign of recession but is cooling, and the Federal Reserve is pulling off a feat unprecedented in modern history: eliminating high inflation without causing a U.S. recession.
The economy created 199,000 new jobs in November, according to a Bureau of Labor Statistics release Friday morning. The level of job creation is on par with recent U.S. expansion cycles but cooled significantly from the roaring post-pandemic pace of the last three years, which in 2022 had fueled the highest inflation rate in four decades.
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