The U.S. added 223,000 in December as hiring cooled to the lowest point in two years and waged growth slowed from November.The unemployment rate dropped to 3.5 percent from 3.6 percent, back to the low point before the pandemic in signs the labor market is resilient. But the slower rate of hiring showed signs high interest rates are taking a grip on employment amid fears of a recession and as historic inflation begins to show signs of dropping.
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