Yesterday, the United States announced the latest non-farm employment data. The unemployment rate for December dropped from 4.5% last month to 4.4%. This is a small positive for the economy, but it also reduces the likelihood of the Federal Reserve cutting interest rates in 2026.

In terms of employment population, 50,000 new jobs were added in December, slightly less than the 56,000 last month, and below the market expectation of 60,000. This is considered a small negative, but the issue is not significant.
Regarding wage growth, the average hourly wage in December increased by 0.3% month-over-month, and last month's data was revised upward to 0.2%. This indicates that the resilience of the US economy is quite good.