145,000 Jobs Added in December, Unemployment at 3.5%

by Mary Margaret Olohan: The U.S. economy added 145,000 jobs in December, while the unemployment rate remained at 3.5%, according to Department of Labor data released Friday.

In December, 145,000 jobs were added, according to the Bureau of Labor Statistics report—about 121,000 fewer jobs than were added in November.

Decembers’ unemployment rate remained steady at 3.5%, matching September’s unemployment rate, the lowest since December 1969.

Economists had predicted that 164,000 jobs would be added and that the unemployment rate would remain at 3.5%, according to CNN, about 100,000 jobs fewer than the previous month when a General Motors strike ended and boosted job numbers.

Job growth has come back strong after February, when just 33,000 jobs were added.

The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to The Wall Street Journal.
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Mary Margaret Olohan writes for The Daily Caller. The Daily Signal shared article.

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