ob creation stumbled in December, with the U.S. economy adding just 74,000 positions even as the Federal Reserve voted to take the first steps in eliminating its stimulus program.
The unemployment rate dropped to 6.7 percent, below economists' estimates and due primarily to continued shrinkage in the labor force.
It was the weakest job creation in almost three years. Economists said the frigid weather might have had an impact.
"I describe this as a weather-related clunker," said John Canally, investment strategist and economist at LPL Financial. He pointed to a 16,000 drop on construction jobs, which are mostly outdoors, versus a drop of 1,000 in transportation and warehousing.
Job growth weakest in 3 years; unemployment rate falls - NBC News.com
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