Live updates on jobs report, stock market news: 223,000 jobs added

Hiring slowed modestly in December as employers added 223,000 jobs to cap another year of growth, likely foreshadowing the deeper rebound and recession many economists expect in 2023.

The unemployment rate fell to 3.5% from 3.7%, the Labor Department said on Friday.

Economists polled by Bloomberg had estimated that 200,000 jobs were added last month.

For all of 2022, the US added 4.5 million jobs, second only to 6.7 million last year, as the country recovered from record job losses in the early days of the COVID-19 pandemic.

Job gains fell by a combined 28,000 in October and November. October was revised up from 284,000 to 263,000 and November from 263,000 to 256,000, painting a slightly weaker portrait of job growth in the fall.

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