US adds 223,000 jobs in December, ending 2022 on high note

Continued strength of jobs market comes as Fed struggles to cool hiring and bring down inflation by raising interest rates

The US jobs market ended 2022 on a high note, adding another 223,000 jobs in December, the department of labor reported on Friday. The unemployment rate dipped to 3.5%, back to its pre-pandemic low.

The continued strength of the jobs market comes as the Federal Reserve has struggled to cool hiring and bring down inflation by raising interest rates at a pace unseen in a generation.