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December 11, 2023

Solid hiring lowers US jobless rate

WASHINGTON (AP) — U.S. employers added a healthy 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve's 2% target without causing a steep recession.

The unemployment rate dropped from 3.9% to 3.7%, not far above a five-decade low of 3.4% in April.


 
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