Meanwhile, the Labor Department said the unemployment rate came in at 4.1% in December, unchanged from the two previous months and in line with economist estimates. "Black unemployment peaked at 16.8 percent in March 2010, well above the peaks for other demographics". Teen unemployment rose 2.2 percentage points to 15.9 percent - more adolescent volatility (in the data).
In January 2017, there were 18,436,000 employed black Americans over the age of 16.
Background and Analysis- On a year-over-year (y/y) basis (December 2017 over December 2016), total nonfarm employment was up 1.4%, and monthly job gains have averaged approximately 171,000 over the past 12 months. In December, the unemployment rate dropped to 5.7 per cent, down from 5.9 per cent the month before, to reach its lowest mark since comparable data became available in 1976.
Economists polled by Bloomberg were expecting a flat showing, with about 2,000 jobs added. In the Establishment data, retail trade was the biggest loser, dropping more than 20,000 jobs in a month where retail employment is traditionally strongest.
Woman killed and 12 injured in Egypt hot air balloon crash
The balloon was carrying both Egyptians and foreign tourists, with the nationality of the latter not yet having been disclosed. In 2016, balloon flights were temporarily halted in the city after more than 20 people were injured in a similar accident.
Several analysts said Friday's solid labour report might be enough to encourage Bank of Canada governor Stephen Poloz to introduce another interest-rate hike later this month.
Most of the jobs added in December were part time, but for the year as a whole, the vast majority - 394,000 - were full time.
BLS Revisions- The change in total nonfarm payroll employment for October was revised from +244,000 to +211,000, and the change for November was revised from +228,000 to +252,000. Eight years later, with unemployment at 4.1%, workers have the upper hand. That explains both the wage stagnation and the relatively low levels of job creation that we continue to see in the United States economy, post-recovery. The household report showed modest growth in the labor force, employment, and the unemployed that largely matched the larger employer survey.
More broadly, the job market is shifting in a way that economists say helps explain why wage growth has been so sluggish.