1,788,000 More People Employed Since December 2016; 148,000 Jobs Added Last Month

By Susan Jones | January 5, 2018 | 8:41am EST
In a Friday morning tweet ahead of the jobs report, President Trump lauded “Jobs, Jobs, Jobs.”

(CNSNews.com) - On November 20, President Trump tweeted: "Under President Trump unemployment rate will drop below 4%. Analysts predict economic boom for 2018!"

On Friday, the nation's unemployment rate remained at a 17-year low of 4.1 percent for the third straight month, and the number of employed people increased by 103,000 to 154,021,000, the Labor Department's Bureau of Labor Statistics reported.

Since December 2016, 1,788,000 people have been added to the nation's employment roster, and the number of employed people has set six records since February, most recently in September.

The labor force participation rate remained flat in December, as 67.2 percent of the population was either employed or actively seeking work last month.

In November, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 256,109,000. Of those, 160,597,000 participated in the labor force by either holding a job or actively seeking one.

The 160,597,000 who participated in the labor force equaled 62.7 percent of the 256,109,000 civilian noninstitutionalized population.

The number of people counted as not in the labor force -- meaning they did not have a job and were not looking for one -- set its third record for the year at 95,512,000 in December.

A growing number of baby-boomer retirees is steadily pushing up this not-in-the-labor-force number, as do the millions of other people who are not working for whatever reason, including school, child-rearing, etc.

In a Friday morning tweet ahead of the jobs report, President Trump lauded “Jobs, Jobs, Jobs.”

“Dow goes from 18,589 on November 9, 2016, to 25,075 today, for a new all-time Record,” he wrote. “Jumped 1000 points in last 5 weeks, Record fastest 1000 point move in history. This is all about the Make America Great Again agenda! Jobs, Jobs, Jobs. Six trillion dollars in value created!”

Among the major worker groups, the unemployment rate for teenagers declined to 13.6 percent in December, offsetting an increase in November. In December, the unemployment rates for adult men (3.8 percent), adult women (3.7 percent), Whites (3.7 percent), Asians (2.5 percent), and Hispanics (4.9 percent) showed little or no change.

Black unemployment reached a record low of 6.8 percent in December.

The Bureau of Labor Statistics said job gains have averaged 204,000 over the last three months.

And in another positive development in December, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $26.63. Over the year, average hourly earnings have risen by 65 cents, or 2.5 percent.


 

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