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Jobs growth slows in December

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Jobs growth slows in December

Nonfarm payrolls grow by 252,000, beating expectations.

Total nonfarm payroll employment rose by 252,000 in November, and the unemployment rate declined to 5.6%, the U.S. Bureau of Labor Statistics reported today.

Consensus estimates had expected an increase of 220,000 new jobs.

  • Job gains were widespread, led by growth in professional and business services, construction, food services and drinking places, health care, and manufacturing.
  • The historically low employment participation rate fell further to 62.6%.

Consensus estimates had expected an increase of 220,000 new jobs.

  • The number of unemployed persons increased by approximately 383,000, coming in at 8.7 million.
  • Since the beginning of the year, the number of unemployed persons has declined 1.7 million, while the unemployment rate has declined by 1.1 percentage points.

The full report can be found here.

 

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