Slowing Labor Market, Uncertain Consumers, Persistent Inflation
Dan North | January 2026
The December employment report was rather weak. Some economists were excited by the news that the unemployment rate fell by a whopping 0.1%.... right back to where it was a few months ago. In fact, outside of November’s 4.5%, December’s 4.4% reading was the highest in over four years (the gap in the blue line is due to the government shutdown).
Things got worse from there. The economy created only 50,000 jobs in December, well below expectations of around 75,000. And as usual, the jobs were much too highly concentrated in one industry, as healthcare made up 42% of all the gains. In fact, over the past twelve months, healthcare has accounted for a disturbingly lopsided 69% of all job gains. That’s an unhealthy way to grow an economy.
To read Dan's full report, click on the link below and download the PDF
Wheel of Risk Podcast
What do you get when you combine invaluable business insights, actionable intelligence, and a pinch of irreverent fun? Season three of America’s premiere podcast about risk and reward, of course!
Wheel of Risk, proudly presented by Allianz Trade, is coming back — featuring a series of thought-provoking and informative conversations about timely, big-picture topics in the world of business. Join host Alix McCabe and her team of experts as they explore everything from the importance of DEIB initiatives and the economic impact of elections, to women in leadership, how artificial intelligence will change eCommerce, and much, much more.
So go ahead, give the wheel a spin! Season three of Wheel of Risk is now everywhere you listen to podcasts.