Employers created 263,000 jobs, even as a wave of layoffs in the tech industry made headlines. The unemployment rate was steady at 3.7 percent, while wages have risen 5.1 percent over the year, more than expected. The labor market has been surprisingly resilient in the face of successive interest rate increases by the Fed. But economists found reasons for concern in the evidence that growth is now largely coming from service sectors like education, health care and hospitality, which powered November’s job gains. Retailing was among the few industries to lose jobs, as employers like Walmart announced lower than usual holiday hiring, although the volatility of the last few years have made that data more difficult to accurately assess. Other indicators have signaled that a more serious contraction is underway . . .
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