Hardware Retailing The Industry's Source for Insights and Information
Total payroll employment increased by 216,000 in December, according to the U.S. Bureau of Labor Statistics (BLS). Unemployment rates also remained unchanged at 3.7% and 0.2 points higher than the same point in 2022. December brought on 17,000 more jobs than November, which grew by 199,000 jobs.
Employment continued to trend up in government, health care, social assistance and construction, while transportation and warehousing lost jobs.
Construction employment continued to trend up, with a gain of 17,000. Employment in nonresidential building construction increased by 8,000. On average, construction added 16,000 jobs per month in 2023, down from an average monthly gain of 22,000 in 2022.
Retail trade employment was up 17,000 in the month, including building material and garden equipment and supplies dealers, which grew by 8,000.
In December, average hourly earnings for all employees on private nonfarm payrolls rose by 15 cents, or 0.4 percent, to $34.27. Over the past 12 months, average hourly earnings have increased by 4.1 percent.
