At some point the surprise will be in the other direction

But it wasn’t last month.

The US economy ended 2023 on a high note.

The labor market added 216,000 jobs in the month of December, up from 173,000 the previous month, surprising Wall Street once again to close out 2023. Economists surveyed by Bloomberg had expected 175,000.

Data from the Bureau of Labor Statistics released on Friday showed the unemployment rate was 3.7% for the month, flat from the rate seen in November. Economists had expected the unemployment rate to tick higher to 3.8%.