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Economy Overview

United States

Report | United States Employment Update - December 2014

Summary

​The U.S. economy registered one of its top-performing months in terms of employment growth during the recovery so far, adding 321,000 jobs with gains spread across industries and subsectors. A resurgence in office-using segments as well as slower subsectors such as manufacturing combined with increasing job openings and voluntary quits to keep unemployment at 5.8 percent, while consumer confidence remains near recovery highs. Other measures of labor utilization and market growth are trending in a positive direct as well: job openings are at a 13-year high at 4.7 million, consumer confidence is hovering within a few points of 90.0 and spending is rising due to wage growth. This is coming on the back of sustained GDP growth of more than 3.0 percent annually, which, like employment, we expect to continue to demonstrate signs of momentum over the next 24 to 36 months.

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