December Jobs Report: Solid Finish, Stronger Wages

Published on09 JAN 2017

The US labor market posted a solid finish to 2016 according to Goldman Sachs Research’s read of the latest jobs report, with gains well above the amount needed to drive down unemployment over time. Perhaps the "most encouraging sign" was more evidence that wage growth is picking up, with average hourly earnings rising 2.9% year over year. “That’s the fastest growth of the current expansion and the best since 2009,” said Senior Economist Zach Pandl.  “So not only is the economy adding more jobs, we are also seeing a broadening of wage growth for most workers.”  

Zach Pandl
Senior US Economist, Global Investment Research, Goldman Sachs