Economics
Hiring Surge Trims U.S. Job-Market Slack Holding Back Wages
- Employment gains revised higher for October and November
- Advance in yearly average hourly wages smaller than forecast
Three Things You Might've Missed About the Labor Market
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The American labor-market juggernaut rolled unabated at the end of 2015, cushioning the U.S. economy from weakness abroad, but failing to ignite the wage growth sought by Federal Reserve policy makers.
Employers added 292,000 workers to payrolls in December, exceeding the highest estimate in a Bloomberg survey and putting the gain for all of 2015 at 2.65 million, a Labor Department report showed on Friday. The unemployment rate held at a seven-year low of 5 percent as almost a half million people entered the workforce, a separate survey of households showed.