BREAKING: Jobs report released for December, falls short of expectations

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BY TEAM DML / JANUARY 10, 2020 /

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WSJ.com:

WASHINGTON—Employers added 145,000 jobs in December and unemployment stayed at a 50-year low of 3.5%, capping a tenth straight year of payroll gains.

Private-sector wages advanced 2.9% from a year earlier, the smallest annual gain since July 2018. And revisions showed payrolls for November and October were revised down by a net 14,000.

The article goes on to state the following:

RELATED — REPORT: JOBLESS CLAIMS FALL BY MORE THAN EXPECTED

For all of last year, employers added 2.11 million jobs. That was a slowdown from 2018’s robust gain of 2.68 million and ranked 2019 eighth for job growth in the past 10 years. A cooler pace of hiring reflected employers’ difficulty finding enough workers, global economic uncertainty and the fading effects of 2018’s tax cuts.

The report states that the December jobs growth fell short of the 160,000 new jobs expected.  The biggest job growth was in construction and retail, with some growth in health care and professional services.  However, employment fell in manufacturing, transportation and warehousing.

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