The unemployment rate remained at 3.5%
The US unemployment rate reached its lowest point since the ’60s. Source: shutterstock.com
According to the Conference Board’s report, the US added 145,000 jobs in December, whereas previous months were revised down slightly. Job creation was mainly concentrated in the services sector as well as construction. However, the decline of 12,000 jobs in manufacturing shows that this part of the economy is still weak.
Although, easing trade tensions between China and the US may help to improve business confidence in 2020
In 2019, the unemployment rate reached its lowest point since the late 1960s. As to job growth, it remained strong with an average of 176,000 jobs added per month – just over 20% slower than the average of 223,000 in 2018.
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