The world's biggest economy added 216,000 jobs in the final month of 2023 despite expectations of a slowdown from the prior month, according to Department of Labor data. The unemployment rate was unchanged at 3.7 percent, holding at a historically low level and defying forecasts of a small uptick. These robust figures come as higher interest rates bite, after the Federal Reserve lifted the benchmark lending rate rapidly and held it at a high level to ease demand and rein in inflation.
