US December Payroll Gains Short of Estimates

Labor News

Reprinted from The New York Times by Reuters on January 5, 2017.

US job growth slowed more than expected in December amid a decline in retail employment, but a pick-up in monthly wage gains pointed to labor market strength that could pave the way for the Federal Reserve to increase interest rates in March.

* Total payrolls rose 148,000 vs 190,000 estimate and upwardly revised 252,000 prior (original 228,000)* Private payrolls rose 146,000 vs 185,000 estimate and upwardly revised 239,000 prior (original 221,000)

* Unemployment rate unchanged at 4.1 pct vs 4.1 pct estimate

* Average hourly earnings rise 0.3 pct month-to-month vs 0.3 pct estimate and downwardly revised 0.1 pct prior (original 0.2 pct) …

NY Times 1/5

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