The Straits Times
www.straitstimes.com
Published on Jan 04, 2013
 

US job growth cools slightly, recovery grinds on

 
 

WASHINGTON (REUTERS) - The pace of hiring by U.S. employers eased slightly in December, pointing to a lackluster pace of economic growth that was unable to make further inroads in the country's still high unemployment rate.

Payrolls outside the farming sector grew 155,000 last month, the Labor Department said on Friday. That was in line with analysts' expectations and slightly below the revised gain of 161,000 reported for November.

Gains in employment were distributed broadly throughout the economy, from manufacturing and construction to health care.

That should reinforce expectations of 2 per cent economic growth this year, unlikely to quickly bring down the unemployment rate or make the U.S. Federal Reserve rethink its easy-money policies, which have been propping up the recovery.