Job and Wage Growth Showed Signs of Cooling
The labor market proved to be a resilient stabilizer in 2022 for a U.S. economy facing the highest inflation in four decades.
With the Federal Reserve having raised interest rates at the fastest pace since the early 1980s to fight inflation, however, the economy has slowed, and effects of that are filtering into hiring and wages.
The unemployment rate was 3.7% in November, according to the Labor Department, just above half-century lows matched earlier in 2022. Fed officials forecast the rate to rise to 4.6%...
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