The Bureau of Labor Statistics (BLS) reported that U.S. employers added 50,000 jobs in December, led by gains in food services, health care and social assistance. The unemployment rate fell slightly to 4.4%, down from 4.6% the previous month.
According to the BLS, the number of unemployed people is currently 7.5 million. The unemployment rate for individuals over the age of 25 with some college or an associate degree is 3.8%. Those with a bachelor’s degree or higher are at a 2.8% unemployment rate.
The labor force participation rate, the share of the population that is looking for work, changed little at 62.4%.
In December, employment trended up in sectors including:
- Food services & drinking places (+27,000)
- Health care (+21,300)
- Social assistance (+17,000)
Employment fell from November to December in retail trade (-25,000). Other major industries showed little change, including construction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; professional and business services; and other services.
Average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.3 percent, to $37.02. Over the past 12 months, average hourly earnings have increased by 3.8 percent. ing workforce strategies ensures you stay competitive while controlling costs—without sacrificing access to exceptional talent.
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