U.S. Economy Adds 216,000 Jobs in December, Surpassing Expectations The U.S. labor market closed 2023 on a high note, with 216,000 jobs added in December, exceeding forecasts and holding the unemployment rate at 3.7%. Despite a slowdown in hiring, the overall job growth for the year was impressive, marking the fifth strongest year for job growth since 2000. However, there are concerns about the potential impact of the Federal Reserve's interest rate increases and global uncertainties on the economy. While some analysts project a moderate recession in the coming year, others remain optimistic about the economy's resilience and the potential for continued growth.