145,000 jobs will be created in the United States. Unemployment is 3.5%

Darnell Taylor
January 14, 2020

The big picture: The U.S. economy has added jobs for 10 years, the longest stretch of hiring "in 80 years of data", according to the Wall Street Journal.

Friday's jobs report by Statistics Canada also showed other positive signs for the local economy, including the continuous rise of the region's labour force - the total number of people either working or looking for jobs.

In a previous estimate, analysts had expected the employment change to remain capped at 25,000 in December. In 2019, payroll employment rose by 2.1 million, down from a gain of 2.7 million in 2018.

Irina Novoselsky, CEO of the jobs site CareerBuilder, said that more employers are offering non-wage benefits such as the chance to work remotely to potential workers and becoming less focused on educational credentials when hiring.

The increase in the number of jobs came as the unemployment rate also fell to 5.6 per cent compared with 5.9 per cent in November when the country lost 71,200 jobs.

The labor department said that hourly wages in December increased by 3 cents to an average of $ 28.32. Employment increased 41,000 in retail trades, 40,000 in leisure and hospitality and 28,000 in health care.

UK cabinet ministers to discuss Flybe rescue package
Stephen Farry, Alliance Party MP for North Down, said it was "very worrying for Northern Ireland and our connectivity to GB". With the jobs of up to 2,400 Flybe staff at risk, union leaders are furious they have been frozen out of talks.

Euphoria concerning the USA economy, as demonstrated by record-setting stock market indices, won't be dampened much by the just-released and somewhat tame Employment Situation report from the Bureau of Labor Statistics. Quebec added 21,100 jobs in the month, helped by gains in the accommodation and food services sector as well as manufacturing.

December became the fifth straight month of job gains in the London area, helping bring the region's unemployment rate down a tick to 5.7 per cent in December from November's 5.8 per cent, figures released Friday by Statistics Canada show. 2019 saw the slowest pace of job additions since 2011, per Yahoo Finance, thanks to effects from the trade war and difficulty finding workers.

Couriers/messengers experienced the largest decrease in December with more than 9,000 jobs removed from the economy, followed by trucking and warehousing/storage (2,200). The nonfarm payrolls report was revised by 10,000 fewer payrolls added (to 256,000) and private sector payrolls were revised down by 11,000 (to 243,000) in November. This level was lower than any point since at least 1994, or as far back as Bloomberg data tracks.

"Since the recession. manufacturing has been a steady grower and we still expect that to be the case in the near (future)", he said. "Wage growth is the most important indicator to watch in 2020".

The average monthly gains for the last three months of the year were 184,000, on par with the rest of the year. In the two months prior to December, however, the gain in wages was reported at a much higher 4.4%.

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