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In December, American employers maintained a brisk tempo of hiring, while lifting wages for employees amid strengthening confidence in the US economy that could pave the way for the key US bank to lift interest rates in March.
The previous month nonfarm payrolls soared by 190,000 jobs, according to a Reuters poll of market experts, following a revenue of 228,000 in November. Notwithstanding the expected moderation, employment gains would still stay above the monthly average of about 170,000 for the last three months.
Obviously, harsh weather in some parts of America probably contributed to December’s job surge slowdown.
For all of the previous year, the American economy is anticipated to have generated nearly 2 million jobs, which is a bit below the 2.2 million gained in 2016. A bit later on Friday the Labor Department is expected to publish its closely watched employment report.
In December, average hourly earnings tacked on 0.3% having soared 0.2% in the previous month.
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