The US labour market adds 312K jobs in December 2018. Wages also beat expectations with an increase of 0.4% m/m and 3.2% y/y, while the unemployment rate rose to 3.9%, coming on the back of a rise in the participation rate. The report for January may be upbeat on the salaries front, but the government shutdown could impact the headline change in jobs. 165k jobs are expected to have been created but it could be much less.
According to the forecast, the number of employed increased by 166 thousand, while the unemployment rate remained at around 3.9%. In the last month of 2018, 312 thousand jobs were created, with 301 thousand of which were created in the private sector. The growth rate of wages has accelerated, prices are rising against the background of improving the situation on the labor market. The only negative result of the employment report was an unexpected increase in the unemployment rate to 3.9%, due to the fact that the share of the economically active population in the US increased .