U.S. Employment Increases by 2.2 Million in 2024, Matching Pre-Pandemic Growth Rates

### Employment Surge in December

Banca March recently reported a noteworthy boost in job growth for December. Against a market forecast of 165,000, a striking 256,000 new positions emerged. This figure even eclipses the revised November count of 212,000. Consequently, the employment rate experienced a subtle dip, lowering by one-tenth of a percentage point, settling at 4.1%. Meanwhile, the total participation rate held steady at 62.5%.

### Wage Growth on the Rise

Furthermore, wages have shown commendable resilience, escalating at a year-on-year rate of 3.9%. On a month-to-month basis, they rose by 0.3%, which is just a touch below the previous month’s increment. This represents a sustainable rate of growth, maintaining a sense of balance in the economy.

### Sector Performance: Services Lead the Charge

Notably, the services sector emerged as the frontrunner in job creation. Health and education sectors, in particular, displayed robust employment activity. However, the industrial segments painted a less rosy picture. Most were losing jobs, highlighting ongoing challenges in these areas.

### Public Sector’s Role

One must not overlook the influence of public employment, which has contributed significantly to this surge. A notable figure of 33,000 new roles were added in the final complete month under President Biden’s administration. This demonstrates the continued importance of government support in the labour market.

### Lone March Participation: Stability Despite Adjustments

Though slight evolutions were observed, the participation rate remained at 62.5%. This stability stood firm despite broader employment changes. As we await the February data revision (covering April 2023 to March 2024), these statistics offer insights into job market trends. Thus, the significance of consistent data monitoring cannot be overstated.

### Steady Gains Ahead

Upon finalising these statistics, it appears the US has added 2.2 million jobs over the past year. This figure aligns with the pre-pandemic average, indicating a resilient labour market recovery. Continued focus on sector-specific strategies will likely bolster future performance further.

For further details on job statistics [visit here](https://www.bls.gov/news.release/empsit.nr0.htm).

In summary, while certain segments face headwinds, the overall job creation landscape remains promising as we head further into 2025.