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US jobs figures for December expected to show hiring steady


US jobs figures for December expected to show hiring steady

Us jobs figures december
Photo: Patrick T Fallon/Bloomberg

The United States Bureau of Labor Statistics will release employment statistics for December today.

Unemployment held steady at 3.7% in November, the lowest level since 1969. Hiring remained strong throughout 2018 despite economic uncertainties over trade, jittery markets and the impact of hurricanes.

2019 will likely see a shift in attention to the Federal Reserve, which has plans to continue raising interest rates as a check on expected continuing economic growth.

The impact of Trump Administration tax cuts on individuals will be felt in the early half of the new year. Legislation passed last year reduced the corporate income tax rate from 35% to 21% and gave individuals about $1.125 trillion in net tax benefits. Supporters of the legislation claim that such a decrease will serve as a stimulus for both productivity-enhancing capital investment, profits or both.

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Experts are anticipating unemployment to continue to edge down in 2019, most likely ending 2018 at 3.6% or 3.5%. While the impact of 2018 economic developments will mostly likely result in a continuing increase in consumer spending in 2019, lower corporate taxes could add new jobs, at least in the short-to-medium-term.

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