Controversial Alzheimer's drug approved - Brazil's Jan. 6 moment - December jobs report

Source: Bureau of Labor Statistics

1. Summary
   The Bureau of Labor Statistics' jobs report for December 2022 showed a still-robust labor market that appears to be cooling. Employers added 223,000 jobs, bringing the unemployment rate to 3.5% -- the historic low seen by the U.S. just before the pandemic.
   
   The jobs gain was the smallest monthly increase in two years. Average hourly earnings were still up 4.6% from last year, but down from March's peak of 5.6%. Overall, 2022 was the second-best year for job creation on record (after 2021), but most of that was concentrated in the first seven months of the year. The labor force participation rate increased slightly but remains low, meaning employers may still struggle to fill positions.
   
   Some economists say the jobs report, combined with data on slowing inflation, means the Federal Reserve is seeing success in its goal of a "soft landing" (in which its efforts to cool down the economy do not cause a large recession). Many economists expect a recession in 2023, as well as an increase in unemployment, but expect the losses to be overall shallow.

   Highly-rated - last 48 hrs
   December’s jobs report fuels optimism that the economy could still pull off a soft landing.
   CNBC (Moderate Left) • Factual Grade 79% • 4 min read
   

1. Different political viewpoint
   Hiring, wage gains eased in December, pointing to a cooling labor market in 2023.
   Wall Street Journal (Moderate Right) • Factual Grade 79% • 4 min read

1. Selected long-read
   The U.S. economy took a wild ride in 2022. Where is it headed next?
   Deseret (Moderate Right) • Factual Grade 70% • 7 min read

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