01/06/2023

Wall Street Jumps as December Jobs Report Eases Rate Worries

U.S. December payrolls up 223,000 vs. estimated 200,000

Wall Street's main indexes rallied on Friday as a slew of economic data including cooling wages and moderation in U.S. jobs growth in December calmed worries over the Federal Reserve's rate-hike trajectory.

The nonfarm payrolls rose by 223,000 jobs in December, data from the Labor Department showed, while a 0.3 percent rise in average earnings was smaller than expected and lower than the previous month.

The numbers for November were revised to show non-farm payrolls rose by 256,000 and average earnings grew by 0.4 percent.

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