6 January 2006, 16:54  U.S. Dec. payrolls rise 108,000

U.S. job growth slowed in December to 108,000 even as the unemployment rate fell to a cyclical low of 4.9%, the Labor Department said Friday. Growth in nonfarm payrolls was less than the 205,000 expected by economists, but upward revisions to prior months totaling 99,000 put total payrolls near the expected level of 134.5 million. Payrolls increased by 2 million in 2005. In December, average hourly wages increased 5 cents, or 0.3%, to $16.34. Average hourly earnings rose 3.1% in 2005. Total hours worked in the economy fell 0.2% in December as the average workweek dropped to 33.7 hours.

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