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Job Gains Down, Wages Up
Job statistics released by the U.S. Bureau of Labor Statistics for the month of December showed that, while wages increased, job gains are starting to ease. Nonfarm payrolls rose a seasonally adjusted 156,000 jobs, with unemployment little changed at 4.7%. Job growth in 2016 totaled 2.2 million, versus the 2.7 million increase reported in 2015. The labor-force participation rate stood at 62.7%, with no real change month-over-month or even year-over-year.
Hourly earnings for all employees on private, nonfarm payrolls increased by 10 cents to $26. During the year, average hourly earnings increased by 2.9%.
The change in October’s total nonfarm payroll employment was revised from 142,000 to 135,000. The change for November was revised from 178,000 to 204,000. As such, employment gains in October and November were 19,000 higher than previously reported.
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- ◦Economy
