U.S. Adds 216k Jobs in December, Fuels Inflation Worries As Wages Jump
• U.S. economy added 216k jobs in December, beating expectations and sparking inflation concerns • Average hourly earnings rose 0.44% month-over-month, the biggest jump since June 2023, fueling inflation worries • Labor force participation rate fell to 62.5%, lowest since January 2023 • Report featured massive downward revisions, so data gathering issues persist • Rate-cut outlook now more uncertain given hot earnings numbers; 10-year Treasury yield jumped to 4.07% on report