Job Market Ends 2019 With Disappointing 145,000 Growth in Payrolls
December’s payroll and wage growth missed expectations
The U.S. jobs market ended 2019 on a sour note, with December’s payroll and wage growth missing expectations, according to Labor Department figures released Friday.
Nonfarm payrolls increased by just 145,000 while the unemployment rate held steady at 3.5%. Economists surveyed by Dow Jones had been looking for job growth of 160,000. The jobless rate met expectations for staying at a 50-year low.
In addition to the slow payroll growth, average hourly earnings rose by just 2.9 percent, below the 3.1percent projection. December marked the first time that wage gains were below 3 percent on a year-over-year basis since July 2018.
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