The Bureau of Labor Statistics reported the US economy increased jobs by 263,000 and unemployment is stable at 3.7% December 2 2022. Most of the increases come from leisure and hospitality, health care, and government. Retail, transportation, warehousing employment were down. Unemployment remained low at 3.7% or 6.0 million people. Stocks are down on the report. This is due to concern that high job growth and low unemployment can increase wages and contribute to inflation. The labor data gives the Federal reserve reason to increase interest rates. The next report will be released Friday January 6 2023.
Nasdaq was down on following Monday December 5, 2022. It closed 11,239.94, -221.56 / -1.93%.