U.S. economy added 2 million jobs in 2017
The job market may be the only thing hotter than the stock market.
The U.S. economy added 2 million jobs in 2017, another solid year of gains.
In December, the economy added 148,000 jobs, according to Labor Department figures released Friday. That was below what economists expected, but still the 87th straight month of gains — the longest streak on record.
Unemployment remained at 4.1%, matching the lowest level in 17 years.
Wages grew 2.5% compared with a year ago. Wages still aren’t growing as quickly as the Federal Reserve would like, one reason so many Americans still feel left out of the recovery from the Great Recession.
Last year’s job gains were below those of previous years.
The United States added almost 3 million jobs in 2014, 2.7 million in 2015 and 2.2 million in 2016. That trend is what’s expected in such a long economic expansion. As unemployment moves to historic lows, job gains eventually slow down.