December Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for December (BLS pdf summary available at http://www.bls.gov/news.release/pdf/empsit.pdf ).
Highlights of the report:
· Non-farm payroll employment increased by 167,000 new jobs in December, following increases of 154,000 in November and 203,000 in October.
- December marks the 40th consecutive month with payroll job gains. Over that period, close to 7.3 million new payroll jobs have been created, generating a robust average of 182,225 new payroll jobs per month.
- Over the past three months, payroll job gains have averaged a robust 175,000 per month.
- In 2006, payroll employment increased by 1.8 million, generating a healthy average of 153,000 new jobs created per month.
· The unemployment rate remained at 4.5% in December.
The unemployment rate remains well below the recent peak of 6.3% in June 2003.