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Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 145,000 jobs in December, the government said on Friday, below economists’ expectations of 160,000. The unemployment rate held at 3.5% — a 50-year low — while wages grew 2.9% from a year earlier, the smallest gain since July 2018.

Why it matters: The U.S. job market held up in the final month of 2019, but heads into the election year with a slowing pace of job creation and wage growth.

Details: Job gains were revised lower by a combined 14,000 in October and November.

  • The manufacturing sector, which President Trump vowed to revive, shed 12,000 jobs last month. In total, the industry gained 46,000 jobs in 2019 — far fewer than the 264,000 in 2018.

The big picture: The U.S. economy has added jobs for 10 years, the longest stretch of hiring "in 80 years of data," according to the Wall Street Journal. 2019 saw the slowest pace of job additions since 2011, per Yahoo Finance, thanks to effects from the trade war and difficulty finding workers.

What to watch: This report likely won't change anything for the Federal Reserve, which has signaled its intention to keep interest rates steady for the foreseeable future.

  • The job market will gain more attention as the election nears and the health of the economy under Trump is debated among candidates.

Go deeper: The end of Trump's manufacturing renaissance

Go deeper

Dan Primack, author of Pro Rata
44 mins ago - Economy & Business

GoodRx prices IPO at $33 per share, valued at $12.7 billion

Illustration: Sarah Grillo/Axios

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday night raised $1.14 billion in its IPO, Axios has learned.

By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.

Updated 45 mins ago - Politics & Policy

House Democrats and Trump admin strike deal to avert government shutdown

House Speaker Nancy Pelosi on Capitol Hill. Photo: Tom Williams/CQ-Roll Call via Getty Images

The House on Tuesday passed legislation to fund the government through Dec. 11, by a vote of 359-57.

Why it matters: The bill will avert a government shutdown when funding expires in eight days. Pelosi and House Majority Leader Steny Hoyer (D-Md.) said earlier that they hoped to hold a vote on the legislation on Tuesday evening.

Scoop: Meadows puts agencies on notice about staff shake-up

Internal government email obtained by Axios

White House chief of staff Mark Meadows told administration officials Monday to expect senior aides to be replaced at many government agencies, according to an internal email obtained by Axios.

Behind the scenes: Meadows asked the director of the White House Presidential Personnel Office John McEntee "to look at replacing the White House Liaisons (WHLs) at many of your agencies," according to the email. "John will be working with outgoing liaisons to explore other opportunities."

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