Better, higher-paying jobs are already are being created. Business and professional services have been adding jobs in recent months, though last month many were in the lower-paying administrative category.
Hiring has been vigorous in the health care industry, and last month construction jobs increased. Manufacturing job growth has more than doubled to 16,000 a month in the last year, and those jobs generally have an average weekly paycheck about $170 higher than other private sector jobs, Jason Furman, chairman of the president’s Council of Economic Advisers, said in a blog post.
Mr. Furman said the estimated 0.7 percent increase in real earnings in 2014 is a bit higher than the average annual increase of 0.5 percent from 2000 through 2007, the period of the last expansion. He calculated the figures using the Consumer Price Index inflationary measures through November, as well as consensus projections for December.
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Mitch McConnell, Senate majority leader, said new economic data could “provide a glimmer of hope.” Credit Jabin Botsford/The New York Times
“But there is more work to be done to raise wages and address longer-standing challenges around family incomes,” Mr. Furman said.
In addition to December’s new jobs, the number of jobs created in November was revised upward to 353,000 from 321,000.
Overall job growth last year averaged 246,000 a month, after 194,000 a month in 2013.
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