US nonfarm payroll employment increased by 292,000 in December

By FXStreet FXStreet (Mumbai) – The U.S. Bureau of Labor Statistics today reported total nonfarm payroll employment increased to 292,000 and the unemployment rate was unchanged at 5.0 per cent. Markets broadly expected the non-farm payroll figures for December to come in at 200,000, lower than November’s 211,000. The actual non-farm payroll figures stayed way above expectations.

Employment gains occurred in several industries, led by professional and business services, construction, health care, and food services and drinking places. Mining employment continued to decline.

The civilian labor force participation rate, at 62.6 percent, was little changed in December and has shown little movement in recent months. In December, the employment-population ratio, at 59.5 percent, changed little.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 6.0 million in December but was down by 764,000 over the year.

The Non-Farm Payrolls which show employment changes across 10 private labor market sectors is watched closely by markets eager to gauge the health of the economy. Investors are well aware that the Fed’s policies in the coming months will depend on significant indicators like labor market data and inflation report. Robust non-farm data signals tightening of the …read more

Source:: FX Street