Job Growth Slows but Wages Keep Climbing as Economy Transitions Post-Pandemic
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Job growth slowed in November but wages continued to climb, which the Fed sees as a sign of a balancing labor market.
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Despite slower job growth, unemployment dipped to 3.7% and over 14 million jobs have been added during Biden's presidency.
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Inflation concerns are dissipating as wage growth outpaces inflation, lifting consumer sentiment.
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Downward revisions to previous job reports show hiring may be stalling, though not retreating.
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The economy is in a "period of real weirdness and transition" that requires patience as it snaps back from the pandemic.