TechFlow news, January 9 — Institutional analysis indicates that U.S. job growth in December may have slowed, as businesses remain cautious about hiring due to import tariffs and increased investments in artificial intelligence. However, the unemployment rate is expected to drop to 4.5%, supporting market expectations that the Federal Reserve will hold interest rates steady this month. The nonfarm payrolls report, due out tonight, is projected to show that the U.S. labor market remains stuck in what economists and policymakers describe as a "don't hire, don't fire" pattern, further confirming that the U.S. economy is undergoing a jobless expansion. During last year’s third quarter, economic growth and worker productivity surged significantly, partly driven by a spike in AI-related spending. Sal Guatieri, Senior Economist at BMO Capital Markets, said: “This isn’t exactly weak demand, because the economy doesn’t seem to be doing poorly. But businesses are extremely cautious about hiring new workers. This could relate to a desire to control costs—perhaps due to tariff pressures—or because many companies believe AI-driven automation will boost productivity.” (Jinshi)
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