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December Employment Report Should Confirm Fed Hawkishness

December Employment Report Should Confirm Fed Hawkishness

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The U.S. payrolls report has missed expectations for a second month in a row, although that ignores improvements in the household survey. Since the pandemic, the number of unemployed persons has increased by just over 600,000 and the number of people not in the labor force who want a job has increased by just over 700,000.

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