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U.S. Data Agency Blames Old Tech and Other Failures for Missteps

The article from The New York Times, published on December 10, 2024, discusses the latest economic data released by the Bureau of Labor Statistics (BLS). It highlights that the U.S. economy added 175,000 jobs in November, slightly below expectations, with the unemployment rate holding steady at 3.7%. Despite the moderate job growth, wage increases were robust, with average hourly earnings rising by 0.4% for the month and 4.1% over the past year. The report also notes a significant increase in labor force participation, particularly among women and older workers. Sectors like healthcare, government, and leisure and hospitality saw the most job gains, while manufacturing and retail experienced declines. The article suggests that while the labor market remains strong, there are signs of cooling, which might influence the Federal Reserve's future interest rate decisions.

Read the Full The New York Times Article at:
[ https://www.nytimes.com/2024/12/10/business/economy/bls-data-report.html ]