New York (CNN Business) The jobs recovery may be losing steam. But the unemployment rate continued to fall, and workers are still bringing home bigger paychecks. Stocks closed lower Friday after the US government reported that just 199,000 jobs were added in December, significantly less than economists expected. The S&P 500 ended down 0.4% and the Nasdaq fell 1% to close a choppy trading day. Although the headline jobs numbers were disappointing, the government also said that wages rose 4.7% over the past 12 months.

Source: CNN January 08, 2022 04:36 UTC