US Payrolls, Wages Pick Up in Jobs Report Dotted With Caveats
- Employment rose 216,000 in December after 173,000 advance
- Drop in participation rate among weaker elements of data
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US job growth picked up in December and wage gains exceeded expectations in a mostly solid report that included some caveats about the strength of the labor market.
Nonfarm payrolls increased 216,000 after downward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.7%, while average hourly earnings rose 0.4% from a month earlier.