The non farm payroll data for December in the United States fell short of expectations, and the slight decrease in unemployment rate cannot conceal the deteriorating trend of the labor market According to Jin Shi, data released by the US Bureau of Labor Statistics on Friday showed that 50000 new jobs were added in December, lower than the 60000 predicted by economists. The unemployment rate dropped to 4.4%, compared to 4.6% in November. After being severely affected by the government shutdown in November and October, the data released this time provides the most complete picture of the US job market in months. The data on the number of new jobs added in November has been revised down to 56000, with an initial value of 64000. This data release further confirms signs of deterioration in the labor market, which has been impacted by federal labor cuts and a slowdown in private sector recruitment. The Federal Reserve has lowered US borrowing costs in the past three meetings, maintaining its benchmark target interest rate range at a three-year low of 3.5-3.75%. Federal Reserve's Powell hinted in December that the threshold for further interest rate cuts is high, stating that current borrowing costs are "in a good position". But the weak December data may complicate the reasons for the Federal Reserve to pause its rate cut cycle at its next meeting later this month. The Federal Reserve has also raised concerns about the accuracy of recent data from the Bureau of Labor Statistics. Powell believes that the US economy is adding 60000 fewer jobs per month than claimed in the employment report.