The national unemployment rate was 4.7 percent in December.
The growth was driven by job creation in the construction and retail sectors, both of which sharply increased their rate of hiring. The annual Lunar New Year shutdown in Asia's factories, particularly those in China, is already underway, and likely will lead to tepid import flows in February. In August 2015, Trump told Time magazine that the real unemployment rate was 42%, at the time the Labor Department reading was 5.1%.
The unemployment rate for labor force members with a bachelor degree or more now stands at a vanishingly small 2.5 percent, which is about as low as we will see. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 3.3 basis points at 2.437 percent.
"The Bureau of Labour Statistics, a federal agency, uses surveys and statistical sampling to calculate how many Americans do or don't work", it said.
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The government said they were not counted as unemployed because they had not searched for work during the four weeks that preceded the survey. Those meager gains in workers' paychecks for the last decade were a major theme of last year's campaign.
The number is a strong one, despite lagging wage growth and a slight uptick in the unemployment rate (mostly due to an increasing labour force participation rate). "B$3 ecause a hefty rise in employment was offset by an even bigger increase in the number of Americans working and looking for jobs", explains USA Today.
The change in total nonfarm payroll employment for November was revised down from +204,000 to +164,000, and the change for December was revised up from +156,000 to +157,000. While the German DAX Index is up by 0.2 percent, the U.K'.s FTSE 100 Index and the French CAC 40 Index are up by 0.6 percent and 0.8 percent, respectively. Further stoking pay increases last month was action by about 20 states to raise their minimum wages. Numerous job gains occurred in computer systems design and related services, which added 13,000 jobs.
"On the negative side, however, the long-awaited acceleration in hourly earnings seemed to slow a bit last month". The increases in non-residential building and heavy/civil engineering construction were more retrained, +9,000 and +6,000 respectively. That disappointment does have a silver lining. The outstanding question is whether this is a one-month spike or a signal of new strength in trend growth.