This is the 22nd consecutive month that of the unemployment rate being at or below 4%
“The effects of tax cuts and deregulation led to a strong close of 2019. The unemployment rate remained at the 50-year low level of 3.5%. This is the 22nd consecutive month of the unemployment rate being at or below 4%. U-6, the broadest measure of unemployment and underemployment, set a record low in December.
“In 2019, the American economy saw record low unemployment rates for many groups, including African Americans, Hispanic Americans, Asian Americans, Americans with less than a high school diploma, and Americans with disabilities.
“The December report showed 145,000 jobs created, bringing the total to 6.7 million jobs created since January 2017. In the fourth quarter of 2019, 74.2% of the newly employed came from outside the labor force, which is the highest share ever recorded.
“For 17 straight months, year-over-year wages for production and non-supervisory employees have grown at or above 3.0%.
“Positive economic policies, including the final passage of the United States-Mexico-Canada Agreement and the signing of the Phase One Trade Agreement with China, will pave the way for more job creation in 2020.”