Commissioner's Statement on the Employment Situation News Release — 2014-01-10

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. Thank you for the opportunity to discuss the employment and unemployment data we released this morning. The unemployment rate declined from 7.0 to 6.7 percent in December, and nonfarm payroll employment edged up (+74,000). Monthly job gains averaged 182,000 in 2013, about the same as in 2012. In December, employment rose in retail trade and wholesale trade but fell in the information industry. Incorporating the revisions for October and November, which increased employment by 38,000 on net, monthly job gains have averaged 172,000 over the past 3 months. Retail trade added 55,000 jobs in December. Job gains occurred in food and beverage stores (+12,000), clothing stores (+12,000), general merchandise stores (+8,000), and motor vehicle and parts dealers (+7,000).