Equitable Growth’s Jobs Day Graphs: December 2018 Report Edition
The employment rate for prime-age workers stayed the same in December, holding on to gains made over the past year in a tightening labor market.
Year-over-year wage growth increased to 3.2% as it inches closer to the expected nominal target of 3.5-4.0% in a tight labor market.
Employment growth continues to be strongest in health care and other service sectors, but also continued to make modest gains in manufacturing and construction in December.
While more workers voluntarily left their jobs into new unemployment in December, unemployment for more than 15 weeks also edged downward.
As overall unemployment increased due to more workers entering the labor force in a healthy economy, the unemployment rate for African Americans and Hispanic or Latina workers continues to be significantly higher than that of White workers.