December jobs report live updates: Nonfarm payroll employment increased by 223,000

Hiring slowed in December as employers added 223,000 jobs to close out an otherwise booming year, possibly foreshadowing a deeper pullback

Hiring slowed modestly in December as employers added 223,000 jobs to close out an otherwise booming year, possibly foreshadowing the deeper pullback and recession that many economists expect in 2023.Economists surveyed by Bloomberg had estimated that 200,000 jobs were added last month.

Job gains for October and November were revised down by a total of 28,000. October’s was revised from 284,000 to 263,0000 and November’s, from 263,000 to 256,000, painting a slightly weaker portrait of job growth in the fall.Putting the brakes on runaway wage growth could help avoid a recession in 2023, but it won't be easyThe report featured some good news for a Federal Reserve determined to lower inflation. Last month, average hourly wages rose 9 cents to $32.

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