Stock market extends surge despite slowing US job growth

Economy adds 148,000 jobs in December with jobless rate steady at 4.1%Pace of hiring has slowed and wages continue to lag behind growth

Wall Street has shrugged off slowing growth in US jobs, extending a surge in the stock market as the world’s largest economy comes closer to reaching full employment.

The Dow Jones Industrial Average was up about 0.2% in New York on Thursday morning, adding more than 50 points to reach 25,123, despite the weaker readings for job creation last month. Figures from the US labor department showed 148,000 new positions were created in December, below the forecasts of economists, as the retail sector shed 20,000 jobs over the holiday season.

Related: Dow and FTSE hit record highs as global stock market surges continue

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