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US job growth cools in Dec as labour mkt nears full employment; wages rise

There was no change in the unemployment rate, which declined by seven-tenths of a percentage point last year

Reuters  |  Washington 

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 labour market strength that could pave the way for the Federal Reserve to increase interest rates in March. Nonfarm payrolls increased by 148,000 jobs last month, the Labor Department said on Friday. Retail payrolls fell by 20,300 in December, the largest drop since March, despite a strong holiday shopping season. Employment data for October and November data were revised to show 9,000 fewer jobs created than previously reported. Job growth ...

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First Published: Fri, January 05 2018. 20:00 IST