U.S. private sector added 122,000 jobs in December 2024, falling short of the 136,000 anticipated by economists polled by Dow Jones Newswires. This figure marks a decline from November's 146,000 job increase, signaling a cooling labor market as the year closed. Nela Richardson, Chief Economist at ADP, highlighted that "the labor market cooled in the final month of 2024, with slower hiring and wage growth. The healthcare sector stood out, creating more jobs than any other sector in the second half of the year."

US Unemployment Claims Drop Unexpectedly Contrary to expectations, initial claims for U.S. unemployment benefits decreased in the week ending January 4, 2025. The U.S. Department of Labor reported a drop to 201,000 claims, down by 10,000 from the previous week, against forecasts of an increase to 215,000. The four-week moving average also fell by 10,250 to 213,000. In the week ending December 28, 2024, 1,867 million people were receiving unemployment benefits, an increase of 33,000 from the prior week.