While an initial analysis of job growth in December fell below expectations, a recent report from Business Insider shows that unemployment amongst black Americans hit a record low of 6.8%.
Additionally, unemployment remained at just above 4%, constituting a 17-year record low.
Business Insider reports the following:
“The US economy added 148,000 jobs in December, fewer than expected, according to a report Friday from the Bureau of Labor Statistics.
The unemployment remained at 4.1%, a 17-year low that supports the Federal Reserve’s assertion that the economy is near full employment. The black unemployment rate fell to a record low of 6.8%.
A plunge in retail jobs, by 20,300, weighed on the labor market as brick-and-mortar stores continued to close.
Still, December was the 87th straight month that employers hired more people than they fired, extending the longest-ever stretch of job growth on record. The economy created 2.06 million jobs last year.”
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