U.S. job growth falls short of estimates in DecemberChristian Fernsby ▼ | January 10, 2020
The Labor Department today released a report showing the pace of job growth slowed by more than expected in the month of December.
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Topics: U.S. job
Economists had expected employment to increase by about 164,000 jobs compared to the jump of 266,000 jobs originally reported for the previous month.
The Labor Department said notable job gains occurred in the retail trade and healthcare sectors, while mining lost jobs.
Meanwhile, the report said the unemployment rate came in at 3.5 percent in December, unchanged from the previous month and in line with economist estimates.
Average hourly employee earnings edged up by just 0.1 percent in December, with the annual growth rate dropping back to 2.9 percent from 3.1 percent. ■