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Friday
Jan062017

Economy Adds 156K Jobs in December; Job Growth Holds Steady in 2016

iStock/Thinkstock(WASHINGTON) — Job growth in December was slower, but hiring was still solid at the end of 2016.

The U.S. economy generated 156,000 jobs in December, according to the latest report from the U.S. Bureau of Labor Statistics. That’s fewer than economists were expecting, but sufficient to absorb new entrants into the labor force. The unemployment rate hit 4.7 percent, up just a fraction from last month’s nine-year low of 4.6 percent.

Employment growth in 2016 overall averaged 180,000 jobs a month, slower than the average gain a year earlier, but consistent with a labor market near full employment.

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