Fed's Barkin: Modest job growth shows firms beyond healthcare, AI, still reluctant to hire

By Howard Schneider

WASHINGTON, Jan 9 (Reuters) - U.S. December job growth was "modest" and showed firms outside a narrow set of industries like healthcare and those associated with the buildout of artificial intelligence platforms remain reluctant to hire, Richmond Fed President Tom Barkin said on Friday.

"That is very much in line with the businesses I am talking to, which is that the low-hire environment continues. Some of it is uncertainty. A lot of it is productivity," Barkin said in comments to journalists. "But it is hard to find businesses outside of the AI ecosystem or healthcare that are talking about hiring."