The U.S. added 252,000 jobs in December, while unemployment dropped to 5.6 percent
New numbers released by the Bureau of Labor Statistics this morning show that the American economy added 252,000 nonfarm private jobs in December 2014. The unemployment rate fell to 5.6 percent, from 5.8 percent in November.
The December numbers beat the 230,000 new jobs economists were expecting, as well as average job growth over the past 11 months. The November numbers were also revised upwards this morning to 353,000, and October's to 261,000, meaning 50,000 more jobs were gained than initially reported between the two months.
The BLS report also showed that the number of unemployed Americans held stable at 2.8 million (31.9 percent of all the unemployed) and average hourly earnings fell by 5 cents to $24.57.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As the left-leaning Economic Policy Institute put it, the recovery for most Americans did not even begin until 2014, when the unemployment and the long-term unemployment rates both clocked in modest but sustained declines, and job growth strengthened along with the employment-to-population ratio.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.
-
Trump says 25% tariffs on Canada, Mexico start Feb. 1
Speed Read The tariffs imposed on America's neighbors could drive up US prices and invite retaliation
By Peter Weber, The Week US Published
-
Trump blames diversity, Democrats for DC air tragedy
Speed Read The president suggested that efforts to recruit more diverse air traffic controllers contributed to the deadly air crash
By Rafi Schwartz, The Week US Published
-
White House withdraws Trump's spending freeze
Speed Read President Donald Trump's budget office has rescinded a directive that froze trillions of dollars in federal aid and sowed bipartisan chaos
By Peter Weber, The Week US Published
-
OpenAI announces ChatGPT Gov for government use
Speed Read The artificial intelligence research company has launched a new version of its chatbot tailored for the US government
By Rafi Schwartz, The Week US Published
-
Caroline Kennedy urges Senate to reject RFK Jr.
Speed Read Robert F. Kennedy Jr.'s cousin said he should not become President Donald Trump's health secretary, calling his medical views 'dangerous'
By Peter Weber, The Week US Published
-
GOP senator reneged on voting against Hegseth
Speed Read North Carolina senator Thom Tillis provided the deciding vote to confirm Pete Hegseth as defense secretary
By Peter Weber, The Week US Published
-
Trump sparks chaos with spending, aid freezes
Speed Read A sudden freeze on federal grants and loans by President Donald Trump's administration has created widespread confusion
By Rafi Schwartz, The Week US Published
-
Trump feuds with Colombia on deportee flights
Speed Read Colombia has backed off from a trade war with the U.S., reaching an agreement on accepting deported migrants following tariff threats from President Donald Trump
By Peter Weber, The Week US Published