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| US jobs growth slows to 156,000 during December | US jobs growth slows to 156,000 during December |
| (35 minutes later) | |
| US businesses added 156,000 jobs in December in the last release of key economic data before Donald Trump is sworn in as US President. | US businesses added 156,000 jobs in December in the last release of key economic data before Donald Trump is sworn in as US President. |
| The amount of jobs created fell from an upwardly revised 204,000 in November and came in below market expectations of 175,000 new roles. | |
| The jobless rate edged up last month to 4.7% from 4.6%. | The jobless rate edged up last month to 4.7% from 4.6%. |
| Mr Trump, who takes office on 20 January, has pledged to create 25 million jobs over 10 years. | Mr Trump, who takes office on 20 January, has pledged to create 25 million jobs over 10 years. |
| The US Bureau of Labor Statistics said that the annual rate of wage growth accelerated in December to 2.7%. This compares to a 2.5% increase in annual average hourly earnings recorded in November. | The US Bureau of Labor Statistics said that the annual rate of wage growth accelerated in December to 2.7%. This compares to a 2.5% increase in annual average hourly earnings recorded in November. |
| The bureau revised up the number of new jobs created in November from an initial count of 178,000 to 204,000. | |
| Over the last year of Barack Obama's presidency, job growth reached 2.2 million, down from 2.7 million in 2015. | Over the last year of Barack Obama's presidency, job growth reached 2.2 million, down from 2.7 million in 2015. |
| Luke Bartholomew, investment manager at Aberdeen Asset Management, said: "Job growth was decent and wage growth is picking up nicely. But the only real show in town is Donald Trump's inauguration. | Luke Bartholomew, investment manager at Aberdeen Asset Management, said: "Job growth was decent and wage growth is picking up nicely. But the only real show in town is Donald Trump's inauguration. |
| "The economy is doing well and doesn't obviously need the shot in the arm that Trump is planning on providing. | "The economy is doing well and doesn't obviously need the shot in the arm that Trump is planning on providing. |
| "The interaction between the Fed and Trump, and the resulting policy mix, is likely to be the defining theme for investors this year." | "The interaction between the Fed and Trump, and the resulting policy mix, is likely to be the defining theme for investors this year." |
| US stock markets opened lower. The Dow Jones industrial average fell 41.33 points to 19,857.96, the Nasdaq traded 1.54 points down at 5,486.71 and the S&P 500 was 4.19 points lower at 2,264.35. | |
| 'Robust' market | 'Robust' market |
| Mr Trump has promised to cut tax both for individuals and for businesses, as well as invest in national infrastructure. | Mr Trump has promised to cut tax both for individuals and for businesses, as well as invest in national infrastructure. |
| The US Federal Reserve indicated in the minutes from its last rate-setting meeting in December that it may have to raise interest rates at a quicker pace if Congress passes Mr Trump's tax cuts. | The US Federal Reserve indicated in the minutes from its last rate-setting meeting in December that it may have to raise interest rates at a quicker pace if Congress passes Mr Trump's tax cuts. |
| The US Fed has lifted interest rates just twice in the past decade, with the most recent increase to 0.5%-0.75% last month. | The US Fed has lifted interest rates just twice in the past decade, with the most recent increase to 0.5%-0.75% last month. |
| Kully Samra, UK managing director at Charles Schwab, said: "Despite December's non-farm payroll numbers missing forecasts, the US economy still has a robust labour market. | Kully Samra, UK managing director at Charles Schwab, said: "Despite December's non-farm payroll numbers missing forecasts, the US economy still has a robust labour market. |
| "The case for investment in the US remains very much intact. These figures should still be viewed as a justification of the interest rate hike last month, and we continue to expect the Fed to raise rates throughout the year." | "The case for investment in the US remains very much intact. These figures should still be viewed as a justification of the interest rate hike last month, and we continue to expect the Fed to raise rates throughout the year." |
| Mr Trump has promised to be "the greatest jobs president God ever created" and hope to boost US economic growth to 4%. | Mr Trump has promised to be "the greatest jobs president God ever created" and hope to boost US economic growth to 4%. |
| Since President Obama's inauguration in January 2009, the number of people with jobs has increased by 11.25 million. The unemployment rate has fallen from 7.8% to 4.7%, having peaked at 10% in his first year. | Since President Obama's inauguration in January 2009, the number of people with jobs has increased by 11.25 million. The unemployment rate has fallen from 7.8% to 4.7%, having peaked at 10% in his first year. |