WASHINGTON (AP) — 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.
The December job growth, though a decent gain, amounted to the lowest monthly increase in two years. The unemployment rate fell to 3.5%, matching a 53-year low.
The monthly employment report offered other signs that the job market has begun to cool. Last month’s gains were less than half the 537,000 that were added in July.
And average hourly wage growth slowed sharply in December.
(Associated Press)
