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Fri Jan 6, 2017, 09:31 AM

Payroll employment rises by 156,000 in December; unemployment rate changes little (4.7%)

Source: U.S. Bureau of Labor Statistics

Payroll employment rises by 156,000 in December; unemployment rate changes little (4.7%)

Economic News Release USDL-17-0004

Employment Situation Summary

Transmission of material in this release is embargoed until 8:30 a.m. (EST) Friday, January 6, 2017

Technical information:
Household data: (202) 691-6378 * cpsinfo@bls.gov * https://www.bls.gov/cps
Establishment data: (202) 691-6555 * cesinfo@bls.gov * https://www.bls.gov/ces

Media contact: (202) 691-5902 * PressOffice@bls.gov


THE EMPLOYMENT SITUATION -- DECEMBER 2016


Total nonfarm payroll employment rose by 156,000 in December, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in health care and social assistance.

__________________________________________________________________________________

Revision of Seasonally Adjusted Household Survey Data

Seasonally adjusted household survey data have been revised using updated seasonal
adjustment factors, a procedure done at the end of each calendar year. Seasonally
adjusted estimates back to January 2012 were subject to revision. The unemployment
rates for January 2016 through November 2016 (as originally published and as
revised) appear in table A, along with additional information about the revisions.
__________________________________________________________________________________


Household Survey Data

The unemployment rate, at 4.7 percent, and the number of unemployed persons, at 7.5 million, changed little in December. However, both measures edged down in the fourth quarter, after showing little net change earlier in the year. (See table A-1.)
....

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.8 million in December and accounted for 24.2 percent of the unemployed. In 2016, the number of long-term unemployed declined by 263,000. (See table A-12.)

The labor force participation rate, at 62.7 percent, changed little in December and was unchanged over the year. In December, the employment-population ratio was 59.7 percent for the third consecutive month; this measure showed little change, on net, in 2016. (See table A-1.)

The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers), at 5.6 million, was essentially unchanged in December but was down by 459,000 over the year. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)
....

Establishment Survey Data

Total nonfarm payroll employment rose by 156,000 in December, with an increase in health care and social assistance. Job growth totaled 2.2 million in 2016, less than the increase of 2.7 million in 2015. (See table B-1.)

Employment in health care rose by 43,000 in December, with most of the increase occurring in ambulatory health care services (+30,000) and hospitals (+11,000). Health care added an average of 35,000 jobs per month in 2016, roughly in line with the average monthly gain of 39,000 in 2015.
....

In December, employment edged up in manufacturing (+17,000), with a gain of 15,000 in the durable goods component. However, since reaching a recent peak in January, manufacturing employment has declined by 63,000.
....

In December, average hourly earnings for all employees on private nonfarm payrolls increased by 10 cents to $26.00, after edging down by 2 cents in November. Over the year, average hourly earnings have risen by 2.9 percent. In December, average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $21.80. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for October was revised down from +142,000 to +135,000, and the change for November was revised up from +178,000 to +204,000. With these revisions, employment gains in October and November were 19,000 higher than previously reported. Over the past 3 months, job gains have averaged 165,000 per month.

_____________
The Employment Situation for January is scheduled to be released on Friday, February 3, 2017, at 8:30 a.m. (EST).

Read more: https://www.bls.gov/news.release/empsit.nr0.htm



A gain of 156,000 is lackluster, but it is spot on with yesterday's ADP report.

Long rant to follow, maybe. I see that I have to add links by hand.

Good morning, DUers and Freepers alike. Yes, this is still a non-partisan OP. After that....

This is the last BLS unemployment report that will be released in an Obama administration. Contrast with where we were eight years ago.


Facilities for Sensory Impaired


Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.


_____________

Go in through Google News to read articles in The Wall Street Journal. You can beat the paywall that way.

********
5 Things to Watch in the December Jobs Report
http://blogs.wsj.com/briefly/2017/01/05/5-things-to-watch-in-the-december-jobs-report-4/

The Labor Department produces its year-end snapshot of the U.S. employment picture Friday. The December jobs report will be the first major data wrapping up 2016 and the economys performance under President Barack Obama. For the month, economists surveyed by The Wall Street Journal forecast a net gain of 183,000 jobs and an unemployment rate of 4.7%.

5 Jan 2017 6:50am By Eric Morath

Eric.Morath@wsj.com
@EricMorath
https://www.twitter.com/EricMorath

....
2 Obama's Legacy

If the economy added jobs in December, it would mark the 75th straight month of employment growth, extending the longest streak of gains on record back to 1939. But that consistency has come at a modest growth rate. Through November, total employment during President Barack Obamas term grew 8.3%. Thats a better growth rate than recorded during George W. Bushs time in office, but a much slower jobs expansion compared with those overseen by presidents Ronald Reagan and Bill Clinton.
....

4 Watching Wages

Average hourly earnings rose 2.5% from a year earlier in November, a step back from stronger growth the prior two months. Other measures of compensation have been trending up this year, so Decembers wage measure will be watched for signs of a bounce back or of an emerging slowdown.

5 Sector Breakdown

Decembers report marks the first full month since Donald Trump was elected president. Watch which sectors responded by expanding and which may have laid off workers. Mr. Trump has made a point to preserve manufacturing jobs, but at the same time, industrial giants General Motors and Boeing announced layoff plans last month.
********

Previously at DU:

Private hiring slows in December, jobs market still solid
http://www.democraticunderground.com/10141656206

Unemployment rate declines to 4.6% in November; payroll employment increases by 178,000
http://www.democraticunderground.com/10141629568

Payroll employment rises by 161,000 in October; unemployment rate changes little (4.9%)
http://www.democraticunderground.com/10141615960

Payroll employment increases by 156,000 in September; unemployment rate little changed...
http://www.democraticunderground.com/10141590296

Payroll employment increases by 151,000 in August; unemployment rate unchanged at 4.9%
http://www.democraticunderground.com/10141564165

For people who need a daily fix:

BLS-Labor Statistics Twitter feed
https://twitter.com/BLS_gov

Read tomorrow's news before it happens. Here's the schedule for all economic reports:

MarketWatch Economic Calendar
http://www.marketwatch.com/Economy-Politics/Calendars/Economic

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Reply Payroll employment rises by 156,000 in December; unemployment rate changes little (4.7%) (Original post)
mahatmakanejeeves Jan 6 OP
BumRushDaShow Jan 6 #1
mahatmakanejeeves Jan 6 #2
mahatmakanejeeves Jan 6 #3
Cryptoad Jan 6 #4
George II Jan 6 #5
progree Jan 6 #6
BumRushDaShow Jan 6 #8
mahatmakanejeeves Jan 6 #9
yallerdawg Jan 6 #7
mahatmakanejeeves Jan 6 #10
Erasto Jan 6 #11
Yavin4 Jan 6 #12

Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 09:47 AM

1. K&R

Interesting about the November revision upwards.

As always, thanks for the monthly flurry to get this post out and updated!

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Response to BumRushDaShow (Reply #1)

Fri Jan 6, 2017, 09:50 AM

2. As always, it is my pleasure.

I caught the 6:55 a.m. bus to make sure I got to work on time. It takes some 20 minutes for the computer to boot. No kidding. I can't access the internet for that long after logging in.

And good morning. Something else gets released at 8:30; forgot what. There's another report at 9:30. Busy day.

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 10:12 AM

3. Swell charts 'n' stuff from the BLS and TWSJ.

BLS:

See our interactive graphics on todayís Jobs Report

Graphics for Economic News Releases, Civilian unemployment rate

More charts and analysis on the December nonfarm payroll employment numbers

Current Employment Statistics Highlights December 2016 Release Date: January 6, 2017

TWSJ.:

The December Jobs Report in Seven Charts

By Kate Davidson

kate.davidson@wsj.com
@KateDavidson

Jan 6, 2017 10:11 am ET

The U.S. economy added 156,000 jobs in December, the unemployment rate was little changed at 4.7% and wages grew at the strongest pace since 2009. Hereís a closer look at how that compares.

Job growth slowed in December, as employers added fewer jobs than economists surveyed by The Wall Street Journal had expected. But it was the 75th straight month of job creation, in the final full month of President Barack Obamaís term. That marked the longest stretch of job growth on record back to 1939.

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 10:22 AM

4. 75 straight months of positive job growth!

something no other POTUS has ever been able to accomplish . and record that will stand for a long time.

Thank Mr President!

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 11:27 AM

5. Last chance we get to say this - THANKS OBAMA!!!!!

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 12:10 PM

6. I'm assigning January to Obama as well, since he is president for 2/3 of the month

I always assign January to the president that is in office for the majority of the month, so for consistency I'm going to do the same thing with Obama. e.g. http://www.democraticunderground.com/111622439#post1

Many argue that the whole first year of a new presidency ought to be assigned to the predecessor, since it takes a new administration months to enact significant new economic policies and for those changes to affect the numbers (granted, Trump might be a different story -- it might take less than a year for him to scare the bejesus out of business and consumer confidence and investors). So by assigning January to the previous president, I don't think I'm staking out radical new ground.

As for how the post-WWII presidencies, this is the picture through October 2016, so its 2 months old now. But Obama's average will only increase a little bit if I did figure in Nov and Dec.

From http://www.democraticunderground.com/111622439#post1 :

COMPLETED Presidencies Plus Kennedy, ranked by Average Annual Percentage Increase In Jobs

Average Average

number of Jobs at Annual

Jobs start of Percentage

Created Term Increase

President Per Month Millions In Jobs

========= ========= ======== =======

Johnson 196,500 57.3 4.12%

Carter 215,396 80.7 3.20%

Truman 93,570 41.4 2.71%

Clinton 236,875 109.7 2.59%

Nixon 137,030 69.4 2.37%

Kennedy 105,059 53.7 2.35%

Reagan 167,729 91.0 2.21%

Ford 71,483 78.6 1.09%

Eisenhower 36,854 50.1 0.88%

G.H. Bush 54,021 107.1 0.61%

G.W. Bush 11,406 132.5 0.10%


INCOMPLETE Presidency. Below is Obama thru October 2016:
Obama so far 117,194 134.0 1.05%


##############################################################

I'm going to guess that with Nov, Dec, and Jan jobs added in, Obama will surpass Ford as well in percentage job growth. Then his record will beat 4 of the 6 Republican presidents.

And of course, Obama's record is held down by the millions of jobs lost during his first year -- a carryover of the momentum of several hundreds of thousands of jobs per month being lost in the last few months of the Bush admin. In fairness, I could adjust Obama's record for this, but then I would have to do the same for all the other presidents.

Maybe as a special end-of-Obama presidency special, I will produce a version of the above table where the first year of each presidency is assigned to the predecessor.

#################################################################

I'm going to skip the "Over the Past Month, Over the Past Year, and Since the Job Market Bottom" posting this month, because who cares anyway.

I will revise all my numbers at http://www.democraticunderground.com/111622439 on February 3 when the January job numbers are released. And then I will let it go to seed for the next 4 years, unless i'm in the mood. Maybe updates every 6 months or something.



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Response to progree (Reply #6)

Fri Jan 6, 2017, 12:38 PM

8. Funny but I walked by the office TV just after 11

and CNN was doing s similar ranking comparing to other Presidents. Didn't get chance to check out all of what they were talking about but they had a graphic on the screen that was being discussed.

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Response to progree (Reply #6)

Fri Jan 6, 2017, 12:58 PM

9. "And then I will let it go to seed for the next 4 years, unless i'm in the mood."

I know how you feel. Assuming I haven't been incinerated in a nuclear war* by the first Friday in February, I might do something with the unemployment report. After that? I suspect I will have lost all interest in going on at that point.

Thanks for writing.

* attack. It won't last long enough to be a war.

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 12:18 PM

7. Corrupt Trump impact felt...

according to him.

So November unemployment went from 4.6 to December 4.7.

Thanks for saving all those jobs, jackass!

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 01:12 PM

10. WSJ Analysis: Jobs Report Fits Fed Outlook for Labor Market Gains, Rate Raises

Pay per view.

WSJ Analysis: Jobs Report Fits Fed Outlook for Labor Market Gains, Rate Raises

Fed officials hope continued wage gains will draw more workers off the sidelines

By Harriet Torry

@HarrietTorry

Jan. 6, 2017 11:01 a.m. ET

The U.S. Labor Departmentís December employment report should reassure Federal Reserve officials the job market finished 2016 on a solid footing, leaving them on track to gradually raise short-term interest rates this year.

Hiring slowed a bit last month from November, but the pace in recent months has been within the Fedís comfort range. Unemployment ticked up in December, but it was still low at 4.7% and reflected an increase in...

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 03:09 PM

11. Great!

 

Everyone who wants a job can find a job. The 4.7% rate represents full employment for the nation. I'm looking forward to seeing February's numbers.

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Response to mahatmakanejeeves (Original post)

Fri Jan 6, 2017, 05:07 PM

12. That's the mark Donnie. Let's see you top it.

I expect a -12% UE this time next year.

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