Wednesday, 03 June, 2020


Trump Economy Adds 145000 Jobs In December

Canada saw its first monthly jobs gain since September last month according to new labour data. THE CANADIAN PRESS  Sean Kilpatrick Trump Economy Adds 145000 Jobs In December
Conrad Doyle | 14 January, 2020, 15:38

Last month, the U.S. economy added 145,000 new jobs, down from the 266,000 increase in November, according to the Bureau of Labor Statistics (BLS).

There is one serious feat, considering that the recession is now a decade in the past. Manufacturing payrolls shed 6,000 and government jobs picked up 12,000.

Kavcic said he doesn't expect to see a return to the job gains seen in the first half of previous year after the weakness in the fourth quarter of 2019.

Among the major worker groups, the unemployment rates for adult men (3.1 percent), adult women (3.2 percent), teenagers (12.6 percent), Whites (3.2 percent), Blacks (5.9 percent), Asians (2.5 percent), and Hispanics (4.2 percent) showed little or no change in December. Nonfarm payrolls rose by 145,000 and the unemployment rate was flat at an ultra-low 3.5% in December.

Average hourly earnings in December saw a slight increase (3 cents) to bring it to $28.32.

But retailers, hotels, bars, restaurants, education, construction and health care led hiring last month, showing the resilience of America's dominant service sector.

Canada's economy created 35,200 jobs in December, Statistics Canada said Friday in Ottawa.

However, the unemployment rate also ticked lower in 2019, with December's 3.5% joblessness rate matching November's rate for the lowest level in 50 years.

The central bank has kept its key interest rate on hold at 1.75 per cent for more than a year even as many of its worldwide peers, including the U.S. Federal Reserve, have moved to cut rates and loosen monetary policy in response to weakness in the global economy.

Citing data from the U.S. Bureau of Labor Statistics, Boykins also tweeted the number of jobs added annually since 2013, with the calendar year of 2019 being tied for the lowest in that time span.

The initial estimate for payroll gains in November was revised downward 10,000 to 256,000.

US construction's monthly average jobs increase in 2019 was +13,000, which was only half of the sector's 2018 performance of +26,000.

Couriers/messengers experienced the largest decrease in December with more than 9,000 jobs removed from the economy, followed by trucking and warehousing/storage (2,200). In the two months prior to December, however, the gain in wages was reported at a much higher 4.4%. Since April, the United States saw 7 consecutive months of labor force growth, with over 1.9 million Americans joining the labor market, and unemployment still declined.

Weak wage growth could in part reflect a calendar quirk.

The average monthly gains for the last three months of the year were 184,000, on par with the rest of the year.

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