Live updates on jobs report, stock market news: 223,000 jobs added

Hiring slowed modestly in December as employers added 223,000 jobs to close out an otherwise booming year, possibly foreshadowing the deeper pullback and recession that many economists expect in 2023.

The unemployment rate fell from 3.7% to 3.5%, the Labor Department said Friday.

Economists surveyed by Bloomberg had estimated that 200,000 jobs were added last month.

For all of 2022, the U.S. added 4.5 million jobs, second most behind the 6.7 million gained the previous year, as the nation continued to heal from record job losses in the early days of the COVID-19 pandemic.

Job gains for October and November were revised down by a total of 28,000. October’s was revised from 284,000 to 263,000 and November’s, from 263,000 to 256,000, painting a slightly weaker portrait of job growth in the fall.

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