U.S. Job Growth Slows; Unemployment Falls to 6.7% in Dec.
The Labor Department said U.S. employment rose by 74,000, and the unemployment rate declined from 7.0% to 6.7% in. Employment rose in retail trade and wholesale trade but was down in information.
Manufacturing employment continued to trend up in December (+9,000). Employment rose in primary metals (+4,000) and petroleum and coal products (+2,000), while electronic instruments (-4,000) lost jobs. Manufacturing added 77,000 jobs in 2013, compared with an increase of 154,000 jobs in 2012. Employment in mining edged up in December (+5,000). The industry added 29,000 jobs over the year.
Healthcare employment changed little in December (-6,000). Employment gains in the industry averaged 17,000 per month in 2013, compared with an average monthly gain of 27,000 in 2012.
Construction employment edged down in December (-16,000). However, in 2013, the industry added an average of 10,000 jobs per month. Employment in nonresidential specialty trade contractors declined by 13,000 in December, possibly reflecting unusually cold weather in parts of the country.
Employment in other major industries, including transportation and warehousing, financial activities, leisure and hospitality, and government, changed little in December.
To read the full Labor Department report click here.