December Payrolls Rise 167,000; Unemployment Holds at 4.5%

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U.S. payrolls rose jumped by 167,000 in December and the unemployment rate held at 4.5%, the Labor Department said Friday.The jobs gain followed a 154,000 rise in November that was more than originally reported. The level of additional jobs was above analysts’ forecasts 100,000 new jobs, Bloomberg reported. The unemployment rate was in line with forecasts.Manufacturing employment fell by 12,000 after losing 20,000 in November, more than first reported. Service-industry employment, which includes retailers, banks and government agencies, contributed 178,000 new jobs.The unemployment-rate gauge is based on a survey of households. The number of payroll jobs added is determined by a separate survey of business and government establishments.Because employment levels drive so much economic activity, an increase in employment can help consumer confidence and spending patterns, which affect trucking demand.