US nonfarm payrolls up by 223,000 in December - Breaking The News

US nonfarm payrolls up by 223,000 in December

6 January

1 min read

EPA/ANDREW GOMBERT

Total nonfarm payroll employment in the United States rose by 223,000 in December 2022, the country's Bureau of Labor Statistics revealed in its report published on Friday. The figure topped analyst expectations, but came in lower than the November reading of 263,000.

The unemployment rate declined 0.2 percentage points from the previous month, to stand at 3.5% in December, with the number of unemployed people falling to 5.7 million. The labor force participation rate edged up by 0.2 percentage points, standing at 62.3%. The leisure and hospitality sector saw the biggest expansion in the workforce, with 67,000 jobs gained.

Average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents or 0.3% from November to reach $32.82 in December, representing an annual increase of 4.6%.

nonfarm payrolls data

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