Mild pay growth and slower hiring numbers indicate the current economic state might be sustainable.
WASHINGTON — America’s employers added a solid 223,000 jobs in December, evidence that the economy remains healthy even as the Federal Reserve is rapidly raising interest rates to try to slow economic growth and the pace of hiring.
With companies continuing to add jobs across the economy, the unemployment rate fell from 3.6% to 3.5%, matching a 53-year low, the Labor Department said Friday.
All told, the December jobs report suggested that the labor market may be cooling in a way that could aid the Fed’s fight against high
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