Topline
The unemployment rate unexpectedly fell, and the labor market added back more jobs than expected in December, but economists note the quality of jobs available to Americans is deteriorating as major employers start to slash costs—slowing down wage growth that has been fueling inflation in a positive sign for the Federal Reserve’s campaign to tame rising prices.
Key Facts
Total employment increased by 223,000 in December—better than the 200,000 new jobs economists were expecting, according to data released Friday by the Labor Department.
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