December job market shows better-than-expected economic outlook

The U.S. added 223,000 new jobs in December, outpacing the estimated 200,000, as the unemployment rate fell to 3.5 percent, according to a Jan. 6 report from CNBC. 

Wage growth was less than expected in December, showing that inflation could be slowing down. Wages rose 0.3 percent in December, which is up 4.6 percent from a year ago, but still below the 5 percent estimate. 

The healthcare sector added 55,000 jobs in December. The stock market also rallied during the month. 

Economists warn that the U.S. will likely experience at least a shallow recession during 2023. 

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