WASHINGTON—The U.S. added 292,000 jobs in December, the largest one-month job addition in 2015, the government reported Friday.
The unemployment rate stayed at 5% last month, and average hourly wages remained flat. The jobless rate, which has declined since topping the 10% in October 2009, is now hovering just above what economists consider full employment — the point where further declines could start to push up inflation.
“The December jobs report showed another strong month of job gains, along with upward revisions to prior months,” said NAFCU Chief Economist Curt Long. “Most sectors grew, although mining continued to show weakness as a result of falling oil prices. The labor force participation rate ticked up as 466,000 entered the labor market, but wage growth disappointed in sliding by one cent per hour. While it is a strong report overall, it is not so positive as to overshadow the troubling developments in China recently, and the Fed will likely need more ammunition before it goes authorizes another rate hike.”