Jobs
US Job Growth, Rising Inflation Views Leave Room for Fed to Hold Rates Steady
- Job gains were softer but still solid in 2024 after revisions
- Consumer inflation expectations jumped in separate data Friday
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Slowing but healthy US job growth, combined with rising inflation expectations, supports the Federal Reserve’s inclination to keep interest rates on hold for the foreseeable future.
Nonfarm payrolls moderated last month, unemployment fell, and annual government revisions now show job gains were softer but still solid in 2024, according to a Bureau of Labor Statistics report out Friday. Separate data from the University of Michigan showed consumers expect prices to rise much faster in the year ahead as President Donald Trump pushes forward with tariffs.