Commissioner's Statement on the Employment Situation — 2008-01-04

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Standard Time. The unemployment rate rose to 5.0 percent in December, and payroll employment was essentially unchanged (+18,000) at 138.5 million. In 2007, payroll employment growth averaged 111,000 per month, compared with 189,000 per month in 2006. In December, job gains continued in professional and technical services, health care, and food services, but were mostly offset by losses elsewhere, particularly in construction and manufacturing. Average hourly earnings increased by 7 cents, which followed a gain of the same amount in November. Professional and technical services employment was up by 33,000 in December, for a total gain of 322,000 in 2007. Within this industry grouping, employment rose over the month in management and technical consulting services and in architectural services. Within administrative and support services, services to buildings and dwellings added 19,000 jobs.