U.S. payrolls increased by 216,000 in December, much better than expected

December’s jobs rU.S. payrolls increased by 216,000 in December, much better than expected

eport showed employers added 216,000 jobs for the month while the unemployment rate held at 3.7%. That compared with respective estimates of 170,000 and 3.8%.
The hiring boost came from a gain of 52,000 in government jobs and another 38,000 in health care-related fields such as ambulatory health-care services and hospitals.
Average hourly earnings rose 0.4% on the month and were up 4.1% from a year ago, both higher than the respective estimates for 0.3% and 3.9%.

Tesla recalls more than 1.6 million cars in China over problems with Autopilot, locks

Tesla is recalling more than 1.6 million vehicles in China, state regulators announced Friday.
The problems can be fixed through a free over-the-air software update, so drivers do not have to take their vehicles anywhere, regulators said.
Tesla’s recall in China follows a similar recall in the U.S. that the National Highway Traffic Safety Administration announced in December.

Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the “foreseeable future.”
The diversion means avoiding the quickest path between Europe and Asia through Egypt’s Suez Canal, and taking the longer Cape of Good Hope route around southern Africa.
Several European firms, including Sweden’s Ikea, British retailer Next and appliance firm Electrolux, have warned of delays on some products due to supply chain disruption.

Foxconn Technologies reported a year-over-year revenue decline for both December and the final quarter of 2023.
The company is one of Apple’s largest suppliers and a huge iPhone manufacturer.
Barclays and Piper Sandler downgraded their ratings on Apple stock earlier this week.