Economics
Best of U.S. Labor Market May Be Over With Hiring, Wages Cooling
- But still solid, as jobless rate at half-century low shows
- Full-year job gain of 2.11 million is slowest since 2011
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The U.S. labor market remains historically strong, but signs of slowing are becoming more apparent.
Friday’s jobs report for December showed payroll gains cooled in December by more than forecast, wages rose at the weakest annual pace since 2018 and weekly hours worked matched the lowest level since 2017. While unemployment held at a half-century low of 3.5%, the U.S. added the fewest jobs in a full year since 2011, and analysts expect further moderation in 2020 as President Donald Trump seeks re-election.