(REUTERS) U. S. employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.
Nonfarm payrolls increased by 156,000 jobs last month, the Labor Department said on Friday. The gains, however, still remain above a level that is considered sufficient to absorb new entrants into the labor market.
October and November’s data was revised to show 19,000 more jobs added than previously reported. The economy created 2.16 million jobs in 2016.