U.S. Jobless Rate Hits 5 Percent, 2-Year High

WASHINGTON — Hiring in the U.S. slowed more than forecast in December and unemployment jumped to a two-year high, the U.S. Labor Department reported.

Payrolls rose by 18,000, the least since August 2003, after a 115,000 gain in November that was larger than initially reported, the Labor Department said reported on Friday. The jobless rate rose to 5.0 percent from 4.7 percent in November.