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New-Job Growth Slows in U.S.
The American economy added only 148,000 jobs in December, down from a revised 252,000 created in November, according to the U.S. Dept. of Labor.
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The American economy added only 148,000 jobs in December, down from a revised 252,000 created in November, according to the U.S. Dept. of Labor.
The slowdown reduced the number of jobs added last year to 2.1 million from 2.2 million in 2016. The country’s unemployment rate in December remained unchanged at 4.1%, its lowest since 2000.
The Labor Dept. says the manufacturing sector added 25,000 jobs last month. But those gains, along with increases in construction and healthcare, were offset by a drop in the retail industry.
The department notes that wage growth improved slightly from November to December, and average hourly pay rose by 9 cents.
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