Jobs report for December forecasted to show modest gains in U.S. workforce
Hiring likely remained subdued last month as many companies have sought to avoid expanding their workforces, though the job gains may be enough to bring down the unemployment rate.
December’s jobs report, to be released Friday, is likely to show that employers added a modest 55,000 jobs, economists forecast. That figure would be below November’s 64,000 but an improvement after the economy lost jobs in October. The unemployment rate is expected to slip to 4.5%, according to data provider FactSet, from a four-year high of 4.6% in November.
The figures will be closely watched on Wall Street and in Washington because they will be the first clean readings on the labor market in three months. The government didn’t issue a report in October because of the six-week government shutdown, and November’s data was distorted by the closure, which lasted until Nov. 12.
Another wrinkle: The economy lost 105,000 jobs in October, mostly because federal government employment fell 162,000, reflecting a purge of federal workers earlier last year by Elon Musk’s Department of Government Efficiency. That drop won’t be........
