RALEIGH – The US economy added 223,000 jobs in December, according to the latest data released Friday morning by the Bureau of Labor Statistics.
Along with the increase in jobs, the country’s unemployment rate fell and is now 3.5%, down 0.1% from the revised rate of 3.6% in November 2022.
“Notable employment gains have been in the leisure and hospitality, healthcare, construction and social welfare sectors,” the report says.
dr Gerald Cohen, the chief economist at the Kenan Institute at the University of North Carolina at Chapel Hill, told WRAL TechWire earlier in the week that many economists and analysts expected the jobs report to be “somewhere in the 200,000 range.”
For the calendar year, the number of employees increased by 4.5 million, which corresponds to an average monthly increase of 375,000 jobs.
“We’re beginning to see some balance in the labor market returning,” said Sarah House, senior economist and managing director at Wells Fargo, during a presentation Wednesday in Raleigh. “We believe the Raleigh region can bypass this recession,” she said, expecting 2023 to see a historically mild recession.
But in 2023 there could be job losses in North Carolina. dr Michael Walden predicted that about 50,000 North Carolina residents could lose their jobs in 2023 as the economy enters a recession.
This is an evolving story and will be updated.
50,000 people will lose their jobs in NC when recession hits in late 2023, economist warns
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