The US labor market adds 2.2 million posts in 2024

The US economy added 2.2 million jobs in 2024, which was slowed down compared to the previous year, but at the same time it remains a noticeable sign of power, which many analysts expected 12 months ago. Non -agricultural sector wages increased by 1.4% during the year, with an average of 186 thousand extra net posts per month. Although this rate is less than the monthly increase of approximately 250,000 posts in 2023, it is faster than the 2019 rate, which is the last year before the pandemic. At the beginning of the year, the power of the work -saving engine in the United States is not expected, as many analysts have suggested that post -pandemic recovery will lose its momentum. The excellent performance of the US economy has urged investors to reduce their expectations to reduce interest rates by the federal reserve over the next 12 months, as reducing inflation to the goal will become more difficult while staying strong. “The direction of monthly work growth in 2024 was often a continuation of the gradual slowdown pattern of 2023, with some unexpected bright spots,” says Curie Stallie, the economist in ‘Indeed Hiring Lab’. He added: “Although work increases have now become more moderate compared to previous years, it still exceeds the required rate of about 100,000 jobs per month to keep up with the growth of the population, which is an indication of stability.” The biggest increases have achieved the largest increase in health and social support sectors in recent years; Where they formed more than 40% of the net additional employment, followed by the government sector with a rate of about 20%. The increase in health opportunities led factors such as the aging of the population, while the government’s employment has benefited from financial expenses under Biden management. The hospitality and construction sector also added a large number of jobs, while the manufacturing sector was a decrease in employment. According to the Work Statistics Office, the federal government employed more than 3 million people, or about 1.9% of the civil workforce, at the end of last year. This number does not include approximately 1.3 million individuals in actual military service, which is usually not considered ’employees’. It should be noted that about one fifth of the US government’s workforce works in the postal service. These numbers are expected to be amended when the Work Statistics Office publishes its annual review of national employment estimates on February 7, in collaboration with the first post report for 2025. The initial data published in August indicated that it was estimated at approximately 818 thousand posts within 12 months to March 2024.