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December job growth slows amid slide in retail jobs

But pick-up in monthly wage gains points to labour market strength that may lead Fed to raise interest rates in March

Published Fri, Jan 5, 2018 · 09:50 PM
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Washington

US job growth slowed more than expected in December amid a decline in retail employment, but a pick-up in monthly wage gains pointed to labour market strength that could pave the way for the Federal Reserve to increase interest rates in March.

Nonfarm payrolls increased by 148,000 jobs last month, the Labor Department said on Friday. Retail payrolls fell by 20,300 in December, the largest drop since March, despite a strong holiday shopping season.

Employment data for October and November data were revised to show 9,000 fewe…

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