Jobs
US Hiring Solid While Wages Cool, Giving Fed Room to Slow Hikes
- Payrolls rose 223,000 in December, capping near-record year
- Unemployment rate dropped to 3.5%, matching five-decade low
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The US labor market stayed strong last month and wage gains cooled, reducing risks of a near-term recession and giving the Federal Reserve room to slow interest-rate hikes.
Nonfarm payrolls increased 223,000 in December, capping a near-record year for job growth, a Labor Department report showed Friday. The advance followed a 256,000 gain in November.