U.S. economy adds 145,000 jobs in December, below analysts' expectations
The U.S. economy added 145,000 jobs in December, according to Friday's jobs report that came in a bit below analysts' expectations.
Economists had expected closer to 160,000 jobs to be added following a gain of 256,000 in November, The New York Times reports. For this reason, CNBC characterized Friday's report as "disappointing," writing that the "U.S. jobs market ended 2019 on a sour note." Still, the unemployment rate remained at 3.5 percent, a 50-year low.
CNBC notes December was "the first time that wage gains were below 3 percent on a year-over-year basis since July 2018," and looking at payroll increases for the year, 2019 was the "slowest year for job creation since 2011."
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.
While December's growth is significantly down from November's, The Washington Post notes that the latter report's figures "also accounted for thousands of General Motors workers who returned to the workforce after a lengthy strike."
CNN's Christine Romans described Friday's jobs report as a "a solid finish to the year, but not sizzling," noting that although the unemployment rate is "really low," wages only grew 2.9 percent. "One wonders" about this low gain, Romans noted, calling that "the riddle of this recovery."
Create an account with the same email registered to your subscription to unlock access.
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
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published