US employers add surprisingly strong 216,000 jobs in sign of economic strength

The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.

Friday’s report from the Labor Department showed that December’s job gain exceeded the 173,000 that were added in November. The unemployment rate was unchanged at 3.7% — the 23rd straight month that joblessness has remained below 4%.

The latest data reflect an economy and a job market that are decelerating back to pre-pandemic norms. Hiring remains steady, and while employers are posting fewer openings, they are not laying off many workers.

Despite the low unemployment and cooling inflation, polls show that many Americans are dissatisfied with the economy. That disconnect, which will likely be an issue in the 2024 elections, has puzzled economists and political analysts.