In December, as Covid cases rose dramatically in the United States, U.S. employment increased by far less than was expected.

According to Bureau of Labor Statistics data, nonfarm payrolls increased by 199,000 while the unemployment rate dropped to 3.9%. This compares to the Dow Jones estimate at 422,000 for payrolls and 4.1% for unemployment.

This is a critical moment for America’s economy. More than half a billion Covid cases per year, many of which are related to the omicron variation, may stall an economic revival that could accelerate by 2022.

While summer saw growth slow, economists predict that the GDP will rise sharply by the end of 2011, with Atlanta Fed reporting 6.7% growth. Federal Reserve officials are closely monitoring the data.

The rate of inflation has reached its highest point in almost 40 years. However, policymakers are seeing the employment market as nearing full employment. Accordingly, the central bank indicated that it would begin to reduce the assistance it provides the economy ever since the pandemic.

Friday’s report included Dec. 12 and the last of the omicron spikes that started heading towards Christmas.

This is news breaking. Keep checking back for more updates.