Total Nonfarm Payroll Employment Fell by 140,000, Unemployment Rate Unchanged

U.S. total nonfarm payroll employment declined by 140,000 in December, according to the Bureau of Labor Statistics press release. The decline in payroll employment reflects the recent increase in coronavirus cases despite the unemployment rate remaining unchanged at 6.7%. 

• Overall average hourly earnings were $29.81, slightly above the ones of November $29.58 and December $28.37 in 2019.
• Overall average weekly earnings were $1,034.41, up from November $1,029.38 and above December $973.09 in 2019.
• The utility sector recorded the highest average hourly earnings at $44.38, followed by information at $44.37, and then financial activities at $38.99.
• The lowest hourly earnings were recorded in leisure and hospitality at $17.04, followed by retail trade at $21.31, and then transportation and warehousing at $25.64.

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