Payrolls Rise by 157,000 in December

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mployers added 157,000 workers to payrolls in December and the nation's unemployment rate held steady at 5.4%, the Labor Department reported Friday.

Labor also revised November's gain higher by 25,000, pushing the total number of jobs created in 2004 to 2.2 million, the most since 1999.

Economists forecast a 175,000 increase in payrolls after a previously reported gain of 112,000 in November, Bloomberg reported.

Since employment levels drive so much economic activity, an increase in employment can help consumer confidence and spending patterns, which affect trucking demand.

Manufacturers added 3,000 jobs in December and 76,000 jobs for the year, the first annual gain since 1997, Labor said. The gain for 2004 comes after 3.26 million factory jobs disappeared from 1998 through 2003.

The manufacturing workweek held at 40.5 hours and overtime was steady at 4.5 hours. Construction jobs rose by 7,000.

Employment in service-producing industries, which include retailers, banks and government agencies, rose 144,000 last month after a gain of 136,000 in November.

Retail employment fell 19,600 in December, Labor said.