US unemployment rate remains unchanged at 3.7% in Dec 2023: BLS

These figures are higher than the ones a year earlier, when the jobless rate was 3.5 per cent and the number of unemployed persons was 5.7 million.

Employment in transportation and warehousing declined by 23,000 in the month. Couriers  and messengers lost 32,000 jobs, while air transportation added 4,000 jobs. Since reaching a peak in October 2022, employment in transportation and warehousing has decreased by 100,000.

Retail trade employment changed little in December, with a rise of 17,000. Over the month, employment increased in warehouse clubs, supercentres and other general merchandise retailers (plus 14,000).

Retail trade employment showed little change, on net, since recovering in early 2022 from pandemic-induced losses.

The number of persons not in the labor force who currently want a job edged up to 5.7 million in December and was up by 514,000 over the year. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.

ALCHEMPro News Desk (DS)