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United States

Report | United States Employment Update - January 2017

Summary

​The U.S. labor market capped off a slower and inconsistent 2016 with 156,000 net new jobs added in December. A slight bump in participation increased the unemployment rate to 4.7 percent in December, although over the year it fell by 30 basis points on the back of an expanding workforce and job creation continuing to eclipse growth in the number of people seeking employment. At the industry level, inconsistency remained, as many critical sectors such as professional services, construction, manufacturing and retail trade all saw greater fluctuation on a monthly basis throughout the year. Wage growth, on the other hand, remained a bright spot, rising by 2.9 percent over the year at the fastest rate since 2009, with many sectors seeing growth exceed 3.0 percent.

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