Wall of jobs

6 Jan 2017 By Richard Beales Follow @richardbeales1

Creating nearly 16 mln new positions since the post-crisis nadir is pretty good. So is an unemployment rate under 5 pct. Not all labor indicators are so positive, but wages may finally be on the march. The new president’s bold plans could clash with late-cycle economic realities.

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U.S. employment increased slightly less than expected in December, notching up 156,000 new positions, but a rebound in wages pointed to sustained labor-market momentum.

The unemployment rate ticked up to 4.7 percent, the Labor Department said on Jan. 6, in line with expectations. The year-on-year increase in average hourly earnings reached 2.9 percent, the fastest pace since mid-2009.

Federal Reserve Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with growth in the working-age population.

Employers also hired 19,000 more workers than previously reported in October and November.

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