Economics

U.S. Jobless Rate Falls as Wages Jump, Adding Pressure on Fed

Payrolls rose 199,000 in December, less than half projection
Unemployment rate fell below 4%, wage growth exceeded forecast

U.S. Adds 199,000 Jobs in Dec., Unemployment Rate Falls to 3.9%

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By Reade Pickert

January 7, 2022 at 1:33 PM UTC

Updated on

January 7, 2022 at 6:07 PM UTC

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The U.S. unemployment rate fell below 4% and wages jumped last month, adding to evidence of a tight labor market that’s expected to help spur Federal Reserve interest-rate liftoff as soon as March despite disappointing payroll growth.