Live updates of the jobs report and stock market news: 223,000 jobs added

Employment slowed modestly in December as employers added 223,000 jobs to close an otherwise buoyant year, which could herald a deeper downturn and economic recession that many economists predict in 2023.

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

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

For the whole of 2022, the United States added 4.5 million jobs, second only to the 6.7 million gained the year before, as the nation continued to recover 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 was revised from 284,000 to 263,000 and November from 263,000 to 256,000, painting a slightly weaker picture of job growth in the fall.

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