**MNI 5 THINGS: US December Payrolls +312k; Unemp Rate 3.9%>

--5 Things We Learned From The December Employment Data

By Shikha Dave and Harrison Clarke

     WASHINGTON (MNI) - The following are the key points from the 

December employment report released by the Bureau of Labor Statistics 

Friday: 

     - The December employment data were generally strong. Payrolls 

growth was higher than expected with a 312,000 gain following an upward 

revision to November to +176k, while the unemployment rate rose to 3.9% 

from 3.7% and hourly earnings rose 0.4% after no revision to November. 

Average hours rose to 34.5 hours. 

     - The nonfarm payrolls gain was much stronger the 180,000 gain 

expected. The whisper number was for a 185,000 gain, so an even larger 

upside surprise. Likewise, private payrolls rose 301,000, compared with 

a 175,000 gain expected. 

     - Payrolls in October and November were revised up by a net 58,000. 

October payrolls were revised up by 37,000 to 274,000, and November 

payrolls were revised up by 21,000 to 176,000. Within December payrolls, 

there were solid gains for construction (+38k), education and health 

services (+82k) and retail trade (+24k). However, information jobs 

posted a slight decline (-1k).  

     - The unemployment rate rose to 3.9% from 3.7%, while the 

participation rate rose to 63.1% from 62.9%. The unrounded unemployment 

rate was 3.856%, up from 3.696% in November. The rate for men over 20 

rose to 3.6%, while it was up to 3.5% for women over 20. Household 

employment was up 142,000, while the unemployed level rose by 276,000, 

so the labor force rose by 419,000. The alternate U-6 Rate was unchanged 

at 7.6%.     

     - Hourly earnings were up 0.4% in the month (+0.402% unrounded), vs 

+0.3% expected after no revision to the 0.2% (+0.220%) gain in November. 

The year/year rate rose to 3.2% from 3.1%. The average workweek rose to 

34.5 hours from 34.4 hours in November. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]