The U.S. economy created just 199,000 new jobs in December, according to a U.S. Department of Labor report released today. The unemployment rate fell from 4.2% to 3.9%. Analysts expected an increase of 422,000 jobs and an unemployment rate of 4.1%.
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The decline in the unemployment rate was recorded even though the labor force participation rate remained unchanged, at 61.9%. Another measure of the unemployment rate, which includes those who despaired of finding work and part-time workers, fell 0.4 percent to 7.3 percent.
In November, 210,000 new jobs were added to the U.S. economy, according to the original report, a figure updated today to 249,000. The figure for October was also updated upwards, from 546,000 jobs to 648,000.
The average hourly wage jumped 19 cents, 0.6 percent, to $ 31.31. Analysts had forecast a 0.4% increase. In 2021 as a whole, the average wage rose by 4.7% – the fastest rate in recent decades.
The number of weekly working hours remained unchanged, at 34.7.
High additions of jobs were recorded in the leisure and hospitality sector (53,000 jobs); Business services (43 thousand) and industry (26 thousand).
The December figures do not reflect the full impact of the spread of the corona omicron strain, which infects about half a million Americans a day and threatens economic recovery.
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