https://www.nytimes.com/2023/02/01/business/economy/labor-jolts-report-layoffs.htmlThe Labor Department found a rise in the number of posted jobs per worker in December, despite the Fed’s efforts to cool the labor market.
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The hefty hiring figures defied expectations and underscored the challenges facing the Federal Reserve, which is trying to cool the labor market in its effort to tame rapid inflation.
The unemployment rate in the European Union continued holding steady in December at 6.1%, unchanged from November, Eurostat reported Wednesday. Still, December’s rate is down year over year from December 2021’s jobless rate of 6.4%.
The lowest unemployment rates in December were in Czechia at 2.3% and Poland and Germany at 2.9% each. Spain and Greece posted the highest unemployment rates at 13.1% and 11.6%, respectively.
December unemployment by country:
Austria, 5.0%
Belgium, 5.5%
Bulgaria, 4.0%
Croatia, 6.4%
Cyprus, 7.7%
Czechia, 2.3%
Denmark, 4.8%
Estonia, 5.7%
Finland, 6.8%
France, 7.1%
Germany, 2.9%
Greece, 11.6%
Hungary, 4.0%
Iceland, 3.8%
Ireland, 4.3%
Italy, 7.8%
Latvia, 7.1%
Lithuania, 5.8%
Luxembourg, 4.6%
Malta, 3.2%
Netherlands, 3.5%
Norway , 3.4%
Poland, 2.9%
Portugal, 6.7%
Romania, 5.6%
Slovakia, 5.8%
Slovenia, 4.0%
Spain, 13.1%
Sweden , 7.3%
Eurostat estimates there were 13.1 million unemployed persons in the EU in December.
Friday’s government report painted a resilient labor market, with low unemployment, relatively few layoffs, and many job openings.
WASHINGTON (AP) — America’s employers added a stunning 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates.
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