Archive · 10 Jan 2026
US Jobs Growth Slows, Manufacturing Declines
In December, the U.S. added fewer jobs than expected, but the unemployment rate went down to 4.4%.
This made people think that the Federal Reserve might not lower interest rates this month, so the two-year Treasury yields went up.
The stock market went up to record highs because of this news.
Meanwhile, manufacturing jobs have been decreasing for eight months, and the Supreme Court is expected to rule on the legality of President Trump's tariffs soon.
Some people are worried about the job market and the impact of tariffs on the economy.
The unemployment rate for Black Americans has gone up, while it has stayed low for white Americans.
The economy is creating jobs based on what people want to buy, and hiring patterns haven't changed much.
Jobs growth slowed to 50,000 in December, below the expected 60,000.
Unemployment rate fell to 4.4%, below the forecasted 4.5%.
Manufacturing jobs declined by 8,000 in December, with a total loss of 70,000 since April.
Stock market indexes jumped to record highs due to easing job growth and rate-cut optimism.
Two-year Treasury yields rose to 3.538%, reflecting reduced expectations of a January rate cut.
- Who
- U.S. Federal Reserve, U.S. employers, U.S. Supreme Court, President Donald Trump, J.B. Brown (CEO of BCI Solutions Inc.), Tom Barkin (Richmond Fed President), Luke Tilley (Chief Economist at Wilmington Trust)
- What
- Jobs growth slowed, unemployment rate fell, manufacturing jobs declined, stock market rallied, two-year Treasury yields rose, Supreme Court expected to rule on Trump's tariffs
- When
- December 2023, January 9, 2024, January 10, 2026, January 14, 2026 (expected Supreme Court ruling)
- Where
- United States
- Why
- Jobs growth slowed more than expected, unemployment rate fell, manufacturing jobs declined due to Trump's tariffs and trade reshuffle, stock market rallied due to rate cut optimism, two-year Treasury yields rose due to reduced expectations of a January rate cut, Supreme Court expected to rule on the legality of Trump's tariffs
- Jobs added in December
- 50,000
- Unemployment rate
- 4.4%
- Expected jobs growth
- 60,000
- Expected unemployment rate
- 4.5%
- Chance of January rate cut
- 4.8%
- Two-year Treasury yield
- 3.538%
- 10-year Treasury yield
- 4.171%
- Manufacturing jobs lost in December
- 8,000
- Total manufacturing jobs lost since April
- 70,000
- Black unemployment rate
- 7.5%
- White unemployment rate
- 3.5% to 3.8%
Sources
Two-year yields rise as near-term rate cut seen less likely
Wall St Week Ahead-Earnings start, inflation data pose tests for resilient US stocks
Wall Street rallies to record highs amid easing job growth, rate-cut optimism
US manufacturing jobs slide despite Trump tariffs and trade reshuffle
Donald Trump brushes off early US jobs data post, says 'they gave me some numbers'
