National Employment Ends 2012 on a Steady Note
By Jeff Pinkerton
The Bureau of Labor Statistics released national employment figures for December this morning. The national economy added 155,000 jobs in December. For the year, the economy added more than 1.8 million jobs. December’s unemployment rate was unchanged at 7.8 percent. Solid figures, but not overly impressive.
As usual, the details are most interesting. Construction and manufacturing both saw solid gains in December. Construction employment grew by 30,000 since November while manufacturing saw growth of 25,000. Manufacturing has been on a good run since the end of the recession, adding 263,000 jobs since June 2009. Construction employment, however, has been mostly flat since the end of the recession. The recent surge in housing starts and the construction employment that accompanies it is welcome news. The health services sector had the greatest increase, with 55,000 new jobs in December.
Local employment data for November will be released next week. We will let you know if the Kansas City economy is following the national trend.