The US economy added 145,000 jobs in December, the Bureau of Labor Statistics said Friday.
Although the headline number slightly missed economists’ expectations, the unemployment rate remained steady at 3.5%, a historic low. Over the past three months, an average of 184,000 new positions were added per month.
December’s jobs total was nearly 100,000 jobs fewer than in November, when workers returning from the General Motors strike boosted numbers.
The report was filled with bright spots: The retail sector went on a particularly strong hiring spree in December, thanks to a very strong holiday shopping season. 41,000 retail jobs were added last month.
Yet jobs continued to evaporate in America’s battered manufacturing sector, which has struggled during the US-China trade war. The industry lost 12,000 jobs, compared with an expected increase of 5,000 new positions.
Paychecks rose less than expected in December, climbing only 0.1%. For the year, that put wage growth at 2.9%, less than the 3.1%.
