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As discussed in our preliminary report, the December data shows the same trend as in recent months. Nonfarm jobs at a gain of 16,200 remained positive but slowing. The employment numbers posted a loss for the fifth month in a row, for a cumulative drop of 128,000 since July.
Using the unadjusted data, job numbers remained above the pre-pandemic peak in each of the three groupings of industries by wage level. Growth beyond that peak remains stronger although stalling out in the higher and middle-wage industries. Recovery under this definition remains the weakest in the lower-wage industries.
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