The latest jobs report from the Bureau of Labor Statistics showed that U.S. employers added 252,000 jobs in December, declining the unemployment rate to 5.6%.
With the unemployment rate falling to 5.6% from November’s 5.8%, U.S. employers have been able to add an average of 289,000 jobs over the final three months of 2014—bringing us to the lowest unemployment rate since June 2008.
In December, employment in professional and business services rose by 52,000 with monthly job gains in the industry averaging 61,000 in 2014. Construction jobs rose by a solid 48,000, a decent pickup from recent months. And a possible sign of growing investment in U.S. Heath Care, payrolls climbed to 34,000.
As per the Business Insider, although job growth in the U.S. remains solid, wage growth is still lacking with average hourly earnings falling 0.2% in December, reversing a 0.4% increase in November that was also revised lower in Friday’s report. On a year-over-year basis, wages grew just 1.7% in December, the smallest gain since October 2012.