U.S. jobs market seen fairly healthy despite slowing economy
- 8 years ago
U.S. job growth surged in December and employment for the prior two months was revised sharply higher, suggesting that a recent manufacturing-led slowdown in economic growth would be temporary.
Nonfarm payrolls increased by 292,000 last month, the Labor Department said on Friday.
The unemployment rate held steady at a 7-1/2-year low of 5 percent even as more people entered the labor force, a sign of confidence in the labor market.
October and November payrolls were revised to show 50,000 more jobs created than previously reported, adding to the report's upbeat tone.
The only wrinkle was a one cent drop in average hourly earnings, but that was most likely because of calendar effects which should reverse in the January report.
Nonfarm payrolls increased by 292,000 last month, the Labor Department said on Friday.
The unemployment rate held steady at a 7-1/2-year low of 5 percent even as more people entered the labor force, a sign of confidence in the labor market.
October and November payrolls were revised to show 50,000 more jobs created than previously reported, adding to the report's upbeat tone.
The only wrinkle was a one cent drop in average hourly earnings, but that was most likely because of calendar effects which should reverse in the January report.