Hir­ing re­port: Slow but steady

The Denver Post - - BUSINESS - By Christo­pher Rugaber

WASH­ING­TON» U.S. job growth de­clined mod­estly in Novem­ber, a move that could sig­nal a slower but still steady pace of hir­ing and growth next year.

Most economists said last month’s job gain of 155,000 is more sus­tain­able than some of the larger in­creases posted ear­lier this year. And hir­ing at last month’s pace would make it eas­ier for the Fed­eral Re­serve to slow its in­ter­est rate in­creases, which in­vestors worry are weigh­ing on the econ­omy.

“This is the new Goldilocks,” said Josh Wright, chief economist at iCIMS, a re­cruit­ing soft­ware com­pany. “Still stronge­nough job growth, but a more cau­tious Fed.”

The un­em­ploy­ment rate stayed at 3.7 per­cent, a nearly five-decade low, for the third straight month, the La­bor Depart­ment said Fri­day in its monthly jobs re­port.

For most Amer­i­cans, jobs and in­comes are the most im­por­tant eco­nomic mea­sures. Av­er­age hourly earn­ings in­creased 3.1 per­cent in Novem­ber from a year ear­lier, Fri­day’s re­port said, only the sec­ond time they have climbed that much since the re­ces­sion ended nine years ago.

Most an­a­lysts do ex­pect eco­nomic growth to de­cel­er­ate next year.

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