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America and jobs
The Statesman
|January 15, 2025
The latest US jobs data shows that as 2024 drew to a close, the labour market displayed remarkable reilience, defying expectations with robust job gains and a drop in the unemployment rate.
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In an economic environment shaped by cautious monetary policies and global uncertainty, this performance underscores the enduring strength of the American workforce and its pivotal role in supporting the broader economy. The December surge of 256,000 new jobs exceeded all projections, highlighting the labour market's adaptability. Sectors like healthcare, retail, and leisure and hospitality drove this growth, showcasing their capacity to rebound from earlier slowdowns. Healthcare employment, bolstered by home health services and hospital expansions, demonstrated the sector's indispensable role in both economic and social stability. Meanwhile, the retail sector's seasonal recovery reflected consumer confidence and the enduring vitality of domestic spending. Despite challenges in manufacturing and mining, the labour market's broad-based growth underscores its adaptability, with key sectors driving gains and cushioning the impact of localised economic w
This story is from the January 15, 2025 edition of The Statesman.
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