December, a Great Month for Job Growth
“December was another good month for jobs growth…” says Kent Hoover about the most recent Bureau of Labor Statistic report.
“Here are the headline numbers from Friday’s Bureau of Labor Statistics report: Employment rose by 252,000 jobs, the unemployment rate fell to 5.6 percent — it’s lowest level since since June 2008…
Here’s what those numbers mean as we enter this new year:
The economy is cooking when it comes to jobs
Job growth averaged 246,000 per month in 2014, up from 194,000 in 2013. That’s nearly 3 million new jobs, the best number since 1999.
December was the 11th month of job gains above 200,000. That’s “the first time that’s happened since the 1990s,” noted Jason Furman, chairman of the White House’s Council of Economic Advisers.
Construction came back strong in December, adding 48,000 jobs, and food services and drinking places added 44,000 jobs, well above their monthly average of 30,000 in 2014. Other industries with above-average gains in December were health care and manufacturing.”
Click here to see Hoover’s entire article in The Business Journals.