Jobs Report - December 2016

The Department of Labor reported on Friday that 156,000 jobs were added in December, slightly below expectations, but still a strong number. The best news in the report was wage growth, which grew at a pace of 2.9% year-over-year, and is the largest gain since 2009. The unemployment rate did tick up slightly to 4.7% and the labor force participation rate inched up as well. Here are my thoughts on the report and our outlook for the year.