Comments: Solid December Employment Report, Pickup in Wage Growth

The headline jobs number was below expectations, but, including the combined upward revisions to the previous two months, this was a solid report. Earlier: December Employment Report: 156,000 Jobs, 4.7% Unemployment Rate Job growth has averaged 180,000 per month this year. In December, the year-over-year change was 2.16 million jobs. A key positive was the increase in hourly earnings.  This is a noisy series, and the trend is clearly up. Average Hourly Earnings Click on graph for larger image. This graph is based on "Average Hourly Earnings" from the Current Employment Statistics......(read more)

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