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- U.S. unemployment rate dropped to 5.6% in December
U.S. unemployment rate dropped to 5.6% in December
The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 252,000 jobs in December, exceeding expectations for a rise of 241,000 jobs, after a gain of 353,000 jobs in November. November's figure was revised up from a rise of 321,000 jobs.
The jobless rate declined to the lowest level since June 2008.
The U.S. economy has added at least 200,000 jobs for 11 months in a row. This is the longest growth period since 1994.
The U.S. unemployment rate fell to 5.6% in December from 5.8% in November, exceeding expectations for a decline to 5.7%.
Average hourly earnings decreased 0.2% in December, missing forecasts of a 0.2% gain, after a 0.2% increase in November. November's figure revised down from a 0.4% rise.
The labour-force participation rate fell to 62.7% in December, the 37-year low.
These figures are signs that the labour market in the U.S. is strengthening. But the Fed might delay to hike its interest rate due to the weak wage growth figures.
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