The December jobs report far exceeded economists' expectations

Jobs
(Image credit: Getty Images)

U.S. employers added 312,000 non-farm jobs in December, far exceeding forecasts, according to a Friday report from the Labor Department. Economists surveyed by MarketWatch had expected a 182,000 increase, on average. Despite the gains, the unemployment rate rose to 3.9 percent from 3.7 percent as 419,000 more people entered the labor force searching for work.

A broader measure of unemployment that takes into account discouraged workers and those doing part-time jobs for economic reasons remained at 7.6 percent.

Wages increased by 0.4 percent over the previous month, and 3.2 percent from a year ago, tying October for the best year-over-year increase since April 2009. The job gains showed that the economy remains strong despite growing concerns of a global slowdown.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

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.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us