What Does the December Jobs Report Tell Us About Growth?

Published on
January 7th, 2022
0 minutes

What Does the December Jobs Report Tell Us About Growth?

Daily Briefing ·
Featuring Peter Boockvar and Maggie Lake

Published on: January 7th, 2022 • Duration: 0 minutes

Non-farm payrolls in the U.S. rose by 199,000 in December, which pales in comparison to the original estimate of 422,000. Despite the actual numbers landing below expectations, unemployment in the country fell to 3.9%, which was actually better than the estimated 4.1%. Wages increased 4.7% year-over-year according to the Bureau of Labor Statistics. The industries that reaped the benefits the most were leisure and hospitality. Peter Boockvar, CIO of Bleakley Advisory Group and author of The Boock Report, joins to examine the U.S labor force and inflation. Meanwhile, Bitcoin has been slipping all week and is now below $42,000, levels not seen since September last year. This too is the result of the Federal Reserve’s December meeting minutes hinting at earlier- and faster-than-expected rate hikes. In Europe, inflation hit a record high of 5% in December, leaving people debating whether the European Central Bank should be more aggressive at combating price hikes. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3f3eIDe