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December Jobs Report Offers Good News: Easing Wage Pressures, Healthy Economy
There wasn’t much in the way of reassuring news for investors and the Federal Reserve in 2022. But 2023 is starting off on a better foot with the December jobs report. The latest reading on the jobs market showed an easing of wage pressures since November, which had sparked renewed inflation concerns. At the same time, job growth has moderated from last year’s elevated pace, and yet remained healthy. That dynamic threads the needle of showing some impact on the economy from the Fed’s efforts to slow the economy and fight inflation through interest-rate increases and, at the same, offering no signs of a more significant slowdown that would reflect…