A Slow But Steady Job Growth

The New York Times

“After many consecutive months of similar jobs reports (at least with respect to the headline number) new jobs data on Friday appeared to begin breaking the mold. The economy gained 223,000 jobs last month, a noticeable drop-off from the 263,000 added in November, the number around which September and October data had hovered as well. Though 223,000 is still much higher than officials at the Federal Reserve would like — they aim for about 100,000 new jobs per month — this latest report is a sign that the central bank is beginning to have a more substantial effect on the labor market, which has been more resistant to its campaign to slow down the economy more broadly.”