WASHINGTON — 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, according to an Associated Press report.
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%.
Some details of the report, though, may disappoint the inflation fighters at the Federal Reserve, who might now be inclined to delay any cuts in their benchmark interest rate. Average hourly wages rose 4.1% from a year earlier, up from a 4% gain in November, which could make it harder for the Fed to slow inflation back to its 2% target.