Unemployment Rate Continues to Trend Down
The U.S. Bureau of Labor Statistics reported that non-farm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5%, continued to trend down. Job gains occurred in transportation and warehousing, retail trade, manufacturing, health care, and mining. The unemployment rate has declined by 0.6 percentage point since August.
The report notes that over the past 12 months, non-farm payroll employment has risen by 1.6 million. Employment in the private sector rose by 212,000 in December and by 1.9 million over the year. Government employment changed little over the month but fell by 280,000 over the year.
To read the U.S. Bureau of Labor Statistics’ report, click here.