London (CNN Business) Happy Sunday. A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here.

This week brings the final US jobs report of 2019, buttoning up a solid year for jobs growth as consumer spending stayed strong and concerns about a recession abated.

But it's an open question how long substantial jobs growth can continue. Heading into 2020, momentum is poised to weaken.

"We're likely to see a slower pace of job creation in December, and there is a risk that we see a broader slowdown in hiring over the coming months," James Smith, developed markets economist at ING, said in a note to clients. "As ever though, a lot depends on trade."

The outlook: Economists polled by Reuters believe the US economy added 160,000 jobs in December. That's a very good number, but well below the 266,000 jobs created in November.

Read More