Canada's jobless rate down to 5.6 pct in December

Handsome man with tools holding an American Flag standing against a background of green trees and the rays of the setting sun. View from the back close-up. Concept of work and employment

The manufacturing sector, which President Trump vowed to revive, shed 12,000 jobs last month. The December labor report suggested that job creation may be tapering off in a robust economy.

The Canadian economy added 35,200 jobs in December, fuelled by a gain in full-time jobs, to post the first monthly increase in jobs since September.

Irina Novoselsky, CEO of the jobs site CareerBuilder, said that more employers are offering non-wage benefits such as the chance to work remotely to potential workers and becoming less focused on educational credentials when hiring.

The provincial unemployment rate increased 0.4 percentage points to 4.8%, but remained the lowest among the provinces, the agency said. Wages for rank-and-file workers grew at a slightly faster rate, up 3% in December from a year earlier, but the pace of those gains has cooled sharply from a 3.6% annual increase in October.

The US economy created 2.11 million jobs previous year. Construction firms added 20,000 workers, the best gain since April.

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The Brookings Institute also previously released its analysis of the American economy and found that even "as the USA economy hums along at a favorable pace, there is a vast segment of workers today earning wages low enough to leave their livelihood and families extremely vulnerable".

Among the major worker groups, the unemployment rates for adult men (3.1%), adult women (3.2%), teenagers (12.6%), Whites (3.2%), Blacks (5.9%), Asians (2.5%), and Hispanics (4.2%) showed little or no change in December.

According to the Department of Labor, mining employment declined by 8,000 in December. And low US unemployment is still stunning. The so-called labor-force participation rate was 63.2%. Peter Tchir, head of macro strategy for Academy Securities, called this "the one impressive number" in Friday's report. Employment may have slowed as the number of job seekers went down by 540,000 to 5.75 million past year, With fewer unemployed looking for jobs, there is a potential limit to job creation. In addition, wage growth hasn't just stalled; it's worsened, rendering Friday's brief all-time high in the stock market (that Donald Trump bragged about before it quickly plunged) as relatively insignificant in the larger context of America's jobs. "Wage growth is the most important indicator to watch in 2020".

Revisions subtracted 14,000 jobs from the prior two months, bringing the three-month average to 184,000, the smallest since July. But the company stopped expanding its payroll the past six months, as some customers slowed output.

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