Despite signs of weakening in the overall economy, labor markets held steady, albeit with slower job growth than earlier in 2000. In December, nonfarm payrolls rose 105,000, which exceeds the downwardly revised figures for October (66,000) and November (59,000), but is much lower than the average monthly gain for the first nine months of the year (187,000). Other labor market measures remained strong: The unemployment rate was unchanged at 4.0%, and the employment-to-population ratio increased 0.1% to 64.5%.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-01, pp. 13, 01.01.2001.