What was the US unemployment rate in December?

The unemployment rate in December was estimated to be 4.5%.

Are layoffs increasing in the US job market?

No, layoff announcements in December were at their lowest point since July 2024.

How confident are consumers about finding a new job in the US?

Consumer confidence in finding a new job within three months hit a record low in December.

Home / Business and Economy / US Jobs Slowdown: Hiring Plummets, Layoffs Lowest Since July

US Jobs Slowdown: Hiring Plummets, Layoffs Lowest Since July

9 Jan

•

Summary

December's job gains were estimated at 70,000, with unemployment at 4.5%.
Consumer confidence in finding a new job within three months hit a record low.
December saw the lowest monthly layoff announcements since July 2024.

US Jobs Slowdown: Hiring Plummets, Layoffs Lowest Since July

Economists and workers are closely examining the US job market, which has shown a weak hiring rate and minimal job gains. The final employment figures for 2025 are expected to reveal an unemployment rate of 4.5% with an estimated 70,000 jobs added in December. This cooling labor market has also impacted consumer sentiment, with the perceived probability of finding a new job within three months hitting a historic low in December.

Despite the concerns about slow hiring, recent data offers some reassurance. Layoff announcements in December reached their lowest monthly total since July 2024, according to Challenger, Gray & Christmas. Private payroll data from ADP indicated a gain of 41,000 new positions for the month. Furthermore, estimates based on Bank of America Institute's internal data suggest year-over-year payroll growth recovered in December.