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US job growth slows in November, monthly wage gains miss forecast

The moderation in job gains in November also fits in with other data showing a rise in layoffs

Reuters  |  Washington 

US job growth slowed in November and monthly wages increased less than forecast, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019. The slowdown in hiring reported by the Labor Department on Friday is likely the result of worker shortages. The Fed in its "Beige Book" report this week said most business contacts in its 12 districts said "that employment growth leaned to the slower side of a modest to moderate pace" because of labor shortages. The labor market is ...

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First Published: Fri, December 07 2018. 23:44 IST