Financial Sector Continues Monthly Gains by Adding 13K Jobs in December

The U.S. financial sector added 13,000 jobs in December and extended a streak of monthly employment gains dating back to September 2013, according to data released Friday by the Bureau of Labor Statistics.

Last month’s gains followed the addition of 8,000 workers to industry payrolls in November, putting it in line with average monthly growth in the industry over the last two years, BLS said in a statement.

Overall, the U.S. economy added fewer jobs in December, compared with the previous month, and the unemployment rate increased. Employers added 156,000 workers to payrolls last month, after adding 204,000 in November, while the jobless rate rose to 4.7 percent from 4.6 percent.

Jason Furman, chairman of the White House Council of Economic Advisers, called December’s numbers a continuation of “the longest streak of total job growth by far on record.”

“Thanks in part to the forceful response to the crisis and policies throughout the eight years of the Obama administration to promote robust, shared growth, the U.S. economy is stronger, more resilient, and better positioned for the 21st century than ever before,” Furman said in a statement Friday.

Some Republicans, however, said they weren’t satisfied with the pace of job growth.

“While I welcome some of the bright spots in this report, it doesn’t change the fact that 2016’s job creation was the worst we’ve seen in years,” House Ways and Means Committee Chairman Kevin Brady (R-Texas) said in a statement. “Fortunately, today’s report marks the final chapter of this slow-growth era.”


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