Despite a slowdown in payrolls last month, unemployment once again fell in December.  Â
According to the most recent Bureau of Labor Statistics report, the U.S. added 223,000 jobs in December, surpassing the Dow Jones forecasts of 200,000. Â Â Â
Although a slight dip from the 256,000-gain seen in November, this marks another month that expert forecasts fell below reality.Â
Additionally, the 3.5% unemployment rate came 0.2 percentage points below forecasts.  Â
On the other hand, hourly wage earnings grew 0.3%, below predictions of a 0.4% growth. This indicates that inflation could finally be loosening its grip. Â
The leisure and hospitality industry led the pack in growth, adding 67,000 jobs, followed by healthcare adding 55,000 jobs.Â
Over the last year, the Federal Reserve has conducted several record-high interest rate hikes in an effort to cool down the economy. While certainly making a dent, recent numbers prove that the labor market remains resilient in the post-pandemic era.Â
