Job Market Stays Strong in 2023 with Low Unemployment and Steady Hiring Despite Headwinds
- Unemployment remained under 4% throughout 2023, the longest streak since the Vietnam War
- Employers added 2.7 million jobs in 2023 despite rising interest rates
- Job growth was resilient across sectors like construction and hospitality
- Wage growth slowed to 4.1% by December, easing inflation worries
- Worker paychecks stretched further lately as wages climbed faster than prices