Jolly Jobs

December net job growth of 145,000 brings CY2019 employment gains to 2.1 million, down from almost 2.7 million in 2018. While job growth has slowed, average growth over the past decade has been 2.2 million/year, so it remains sufficiently solid to support continued strong household consumption growth. On the downside, wage growth decelerated slightly, but the broadest measure of unemployment fell to 6.7% the lowest level on record! Decent data.