Laufer Run Down: Strong Job Market for 2016 – The Washington Times

Laufer Run Down: Strong Job Market for 2016 – The Washington Times

President Barack Obama delivered his final State of the Union address on Tuesday last week and confidently stated that our nation’s economy is far sturdier than it was when he took office in 2009.

December’s jobs report capped a strong year in which employers added 2.65 million positions; that made 2015 the second best year since 1999 for job gains, exceeded only in 2014. For a third straight month, the unemployment rate was 5 percent. That’s the lowest three-month dip in eight years and half the 10 percent joblessness registered in October 2009, as the country began climbing out of the recession.

The gain of 292,000 jobs in December 2015 is proof of our economy’s strengthening. This recent jobs boost comes after a steady decline in job gains since July, once again paving the way for the Federal Reserve to increase interest rates for the first time in nearly a decade.

Specifically professional and business sectors saw a gain of 73,000 jobs in December, a boost from last month’s 27,000. While a few of the sub-sectors have seen declines, the top performing sub-sectors included: Employment services (+42,300), Administrative and support services (+57,600), and Temporary help services (+34,400).

For more information on the most recent job stats in various industries visit the Bureau of Labor Statistics and check our new weekly “Laufer Run Down” posts every Friday.