Job Growth Continues at Slightly Slower Pace

“The labor market continued gradually downshifting at the end of 2022, as higher interest rates started to drag on hiring and previously fast-growing industries run out of steam,” the New York Times reports.

“Employers added 223,000 jobs in December, the Labor Department reported on Friday, about in line with economists’ expectations but lower than the average in recent months. The unemployment rate ticked down to 3.5 percent, back to its low point from before the pandemic.”