Jobs Were Added To US Economy In December

Workers cross a high scaffolding on a construction site Wednesday

Workers cross a high scaffolding on a construction site Wednesday

The unemployment rate was 4.1 percent, unchanged from November. "Black unemployment peaked at 16.8 percent in March 2010, well above the peaks for other demographics".

Looking at 2017 as a whole, employment rose 2.3 per cent for its fastest growth rate in 15 years. By December 2017, it dropped to 6.8 percent.

The U.S. economy added 148,000 jobs in December, the Labor Department says, issuing the monthly jobs report from the Bureau of Labor Statistics.

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In January 2017, there were 18,436,000 employed black Americans over the age of 16. Hourly earnings are up by about 2.5 percent year over year as of November, which is actually below the 12-month earnings growth posted in November of last year.

American workers 245,000 claims for state unemployment benefits during the week that ended on December 23, according to seasonally adjusted jobless statistics published on Thursday. Including the prior month, essentially smoothing the last three months of job data for Hurricane effects, payrolls grew at an average of 170,000 jobs per month - approximately the same pace as the yearly average of 174,000 per month.

Several analysts said Friday's solid labour report might be enough to encourage Bank of Canada governor Stephen Poloz to introduce another interest-rate hike later this month. The total was well below the November pace of 252,000, which was revised up from the initially reported 228,000. Those revisions combine for a net 9,000-job loss over previous reports but still puts the average growth in those months about 85,000 jobs higher than December's report. The central bank also might wait a little longer months into 2018 to analyze the economic impacts of new changes to mortgage stress tests, Kavcic added.

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Only two of the fifteen major industry sectors declined in 2017, retail trade (as e-commerce takes share from "big box" retailers) and information, driven by a decline in jobs in print media as well as telecommunications (as telecommunications infrastructure becomes more reliable, fewer workers are needed to make repairs).

Canada added 79,000 jobs last month, blowing past expectations and pushing the jobless rate to its lowest level since 1976.

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