December’s nonfarm payrolls increased by 223,000 for the month, above the Dow Jones estimate for 200,000, but marked a decrease from the 256,000 gains in November. Moreover, wage growth was less than expected, and the unemployment rate fell to 3.5%.
While inflation cooled off for the third consecutive month in December, it still remains far beyond the Fed’s 2% target. Fed officials in December projected that the current rate of 4.25%-4.50% range would rise to just over 5% by the end of 2023 and likely remain there for some time.
As a result, the risk of a recession is high. The World Bank recently warned yet again that the global economy would come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe, and China.
Pfizer Inc. (PFE)
PFE discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company serves wholesalers, retailers, hospitals, clinics, government agencies, pharmacies, individual provider offices, and disease control and prevention centers.
On January 10, it was reported that PFE is working with…
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