US adds 156,000 jobs in December

The U.S. economy added 156,000 jobs in December 2016, according to the U.S. Bureau of Labor Statistics, marking the 75th consecutive month of job growth in the United States. In 2016, job growth totaled 2.2 million, slightly less than the increase of 2.7 million jobs in 2015.

The unemployment rate was little changed at 4.7 percent, slightly up from 4.6 percent the previous month. The unemployment rate is now far below where it was when it peaked at 10 percent. The number of unemployed persons was at 7.5 million, a mild increase from 7.4 million in November 2016.

Average hourly earnings increased by $0.10 to $26.00 in December, after edging down by $0.02 in November. Wages were up 2.9 percent year-over-year. This is evidence that economic growth is finally turning into