U.S. added 156,000 jobs in December; unemployment rate ticked up to 4.7 percent

By: 
Tom Hinde
Publisher

The U.S. economy added 156,000 new jobs in December, according to government data released Friday. The number was slightly below economists' expectations but still represented relatively strong growth. December marks the 75th straight month of job growth and the most extended streak the country has seen since 1939.

The government also revised job figures upward for October and November by another 19,000 jobs. The unemployment rate ticked up to 4.7 percent from 4.6 percent in November. A strengthening economy lead the U.S. Federal Reserve to increase the benchmark interest rate by a quarter of a percentage point in December.

Economists agree President-elect Donald Trump inherits an economy that is relatively healthy, though they caution that some industries and regions of the country continue to lag behind in the recovery. Trump has vowed to boost the U.S. economy by reducing regulations and corporate taxes, boosting infrastructure spending, and reviving America's manufacturing sector.

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