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The government says employers weren't hiring as briskly last month, while the unemployment rate declined by one-tenth to 5.4 percent.

The Labor Department says payrolls grew by 112,000 jobs in November, which is well below expectations. It also revised lower jobs growth numbers for the two previous months.

Underscoring the less-than-hoped-for report, there was also word that manufacturing employment dipped for a third straight month, shedding 5,000 jobs.