Although economists surveyed by Bloomberg had expected American companies to add 180,000 jobs last month, this is still a good number for the final month of 2016. In fact, the number of new jobs added in December was far above what’s needed to keep up with population growth, economists said, and revisions to job figures for October and November added another 19,000 jobs to the rolls.
The number of new jobs added each month has gradually slowed as the economy recovers from the depths of the recession, from average monthly gains of 251,000 in 2014 to 229,000 in 2015 and 183,000 in 2016.
All job losses from The Great Recession have been replaced and the new administration will inherit a great economy. Let’s hope this continues!