The key statistics for the Federal Reserve, which seems determined to send the US economy into a deep recession as it has done in the past with reckless interest rate increases from an ideology that thinks it is good when people lose jobs are that during December, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents, or 0.3%, to $32.82. Over the past 12 months, average hourly earnings have increased by 4.6%. In December, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.2%, to $28.07. AutoInformed doesn’t consider the latest data inflationary worries. (Autoinformed.com: Federal Reserve Chair Powell Says Inflation Remains Too High)

“Since December 2021, the economy has added 4.5 million jobs, for a total of more than 10.7 million jobs since the President took office and the most jobs added in any two-year period on record. With significant gains in health care, leisure and hospitality, and construction jobs, we rounded out 2022 with more of the steady, stable growth that helped our workforce recover from the COVID pandemic and has empowered workers to take on new opportunities,” said US Secretary of Labor Marty Walsh.