President Barack Obama is handing off to President-elect Donald Trump after an impressive labor-market recovery.
December 2016 marked the 75th straight month of job creation in the US. There has never been a streak this long in the 78 years the Bureau of Labor Statistics has reported employment figures.
The unemployment rate was 4.7%, less than half of the 10% peak in 2009.
The jump in average hourly earnings — to the highest year-over-year growth rate since 2009 — showed that the labor market continued to tighten.
“Obama gets high marks for a pretty solid and complete labor market recovery,” said Harry Holzer, a professor of public policy at Georgetown University. “But there are at least two or three large problems remaining,” he told Business Insider.