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January 13, 2025

Surging job market could prove costly for households, businesses

  • The healthy jobs report makes it much less likely the Fed will cut its key interest rate at its next meeting this month.
    • By PAUL WISEMAN
    AP Economics Writer

    WASHINGTON — U.S. job growth surged and unemployment fell last month, an unexpected show of strength that may prove costly to homebuyers and businesses who were counting sharply lower interest rates that would lower the cost of buying everything from refrigerators to homes.

    Job growth rose 212,000 last month from November, the Labor Department reported Friday.


     
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