BREAKING: U.S. job growth slows in December; unemployment rate steady at 3.5%
WASHINGTON - U.S. job growth slowed more than expected in December, but the pace of hiring remains more than enough to keep the longest economic expansion in history on track despite a deepening downturn in a manufacturing sector stung by trade disputes.
Nonfarm payrolls increased by 145,000 jobs last month, with manufacturing shedding jobs after being boosted in November by the return to work of about 46,000 production workers at General Motors after a strike, the government’s survey of establishments showed. Milder-than-normal temperatures in December boosted hiring at construction sites.
Worries that a downturn might be triggered by the Trump administration’s trade war with China spurred the Fed to cut interest rates three times in 2019. Indeed economic growth did slow last year, throttling back to 2.1% in the third quarter from 2018’s pace of nearly 3%. The government last August estimated that the economy created 501,000 fewer jobs in the 12 months through March 2019 than previously reported, the biggest downward revision in the level of employment in a decade. That suggests job growth over that period averaged around 170,000 per month instead of 210,000. The revised payrolls data will be published next month.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
U.S. job growth seen slowing in December after robust gainsU.S. job growth likely slowed in December, but the pace of hiring probably remai...
Weiterlesen »
Gold steady as investors still wary of U.S.-Iran conflict riskGold prices inched up on Thursday as investors preferred to stay put with the sa...
Weiterlesen »
Is Beauty Headed for a Social Media Shakeup in 2020?Instagram’s user growth is slowing. Meanwhile, TikTok is buzzing.
Weiterlesen »
Workers quit their jobs at the fastest rate on record in 2019—here's whyExperts say a tight labor market and sluggish wage growth is forcing workers to quit their jobs in order to get ahead.
Weiterlesen »
https://time.comBreaking news and analysis from TIME.com. Politics, world news, photos, video, tech reviews, health, science and entertainment news.
Weiterlesen »