Laserfiche WebLink
Employment <br />1,000 <br />0 <br />0 <br />600 <br />C <br />400 <br />0 <br />L <br />H <br />Owil1f <br />0 -200 <br />-400 <br />Nonfarm Payroll (000's) <br />Non -farm Payroll (000's) <br />3-month average (000's) <br />V21 <br />72' <br />OCI <br />lcQ 72, '19 '19 1>0 1-30 _1 �1 1� 1� <br />Source: US Department of Labor <br />Unemployment Rate <br />25.0% <br />Underemployment Rate (U6) <br />20.0% Unemployment Rate (U3) <br />e 15.0% <br />v <br />f6 <br />10.0% <br />5.0 % <br />0.0% <br />Source: US Department of Labor <br />The U.S. economy added 216,000 jobs in December, exceeding consensus expectations of 175,000, and the last two months were revised <br />down by 71,000 jobs. Leading sectors included government, leisure and hospitality, and healthcare. The trajectory of job creation is <br />gradually moderating, with the three-month moving average payrolls at 165,000 and the six-month moving average at 193,000. The <br />unemployment rate remained unchanged at 3.7%, and the labor participation rate decreased to 62.5% from 62.8%, falling well below the <br />pre -pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and <br />employed part time for economic reasons rose to 7.1% from 7.0°% last month. Average hourly earnings rose 4.1% year -over -year in <br />December, increasing from a 4.0% gain last month. Employment remains strong by historical standards, but data are trending toward a <br />less robust labor market outlook. <br />4 CJJ <br />12/91 <br />