ECONOMICS COMMENTARY
Jan 10, 2014
US unemployment rate hits five-year low, but hiring disappoints
A steep fall in unemployment in December ups the odds of further Fed tapering. Although non-farm payroll growth was disappointingly low, one month of weakness doesn't represent a trend and, with other economic indicators showing robust growth toward the end of last year, talk will intensify about when interest rates should start rising if we see a resumption of robust employment growth in January.
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