Filings for U.S. jobless benefits fell to 246,000 last week
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Thousands of federal and contract employees have already lost their jobs, but the true impact on these workforces has yet to be seen.
Job cuts mirror early pandemic levels, and more people than ever are working multiple jobs to keep up with economic needs.
U.S. private-sector hiring and wage growth slowed in December, with employers adding just 122,000 jobs.
The drop represents a positive change following a spike in unemployment over the summer.
Consumer demand stays steady amidst challenges such as storms and worker strikes.