U.S. Employment Trends And Federal Reserve Concerns For 2024

According to Odaily, LPL Financial analyst Jeffrey Roach has projected that the U.S. private sector will add an average of 149,000 jobs per month in 2024, a decrease from 192,000 in 2023, with further declines expected in 2025. In December, non-farm payrolls surged by 256,000, and the unemployment rate saw a slight decrease, amid potential large-scale deportations of illegal immigrants. This situation has raised concerns that the Federal Reserve might need to consider interest rate hikes. However, Roach suggests a more optimistic outlook, noting that over 16% of the non-labor force is foreign-born, including undocumented immigrants, indicating that tighter immigration policies may not be as detrimental to the economy as some fear. Meanwhile, the Federal Reserve is expected to maintain current interest rates.