US: Total nonfarm payroll employment increased by 312K in December vs 177K expected
|"Total nonfarm payroll employment increased by 312,000 in December, and the unemployment rate rose to 3.9%," the U.S. Bureau of Labor Statistics reported on Friday.
Key takeaways from the press release
- The unemployment rate rose by 0.2 percentage point to 3.9% in December, and the number of unemployed persons increased by 276,000 to 6.3 million.
- The labor force participation rate, at 63.1%, changed little in December, and the employment-population ratio was 60.6% for the third consecutive month.
- The average workweek for all employees on private nonfarm payrolls increased by 0.1 hours to 34.5 hours in December.
- In December, average hourly earnings for all employees on private nonfarm payrolls rose 11 cents to $27.48.
- Over the year, average hourly earnings have increased by 84 cents or 3.2%.
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