An abnormally-slow December caps off the year with a range of bright spots as well as challenges

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2014-Research-January-2014-employment-updateDecember saw the  U.S. economy add just 74,000 jobs, the second-lowest monthly figure recorded  throughout the recovery so far. It caps off a year that registered a  2.2-million-job expansion, unemployment falling to 6.7 percent and a more  consistent as well as geographically broadening expansion.

While trade and  manufacturing were some of December’s largest winners, over the course of the  2013, the core subsectors of PBS, leisure and hospitality, retail trade and  education and health were dominant, as government continued to see small and  unstable contractions. That said, challenges still remain. Total unemployment  remains elevated at 13.1 percent, while the labor force participation rate  dropped by 20 points to just 62.8 percent. However, we expect that the recovery  will stay on course as momentum builds on a monthly basis and an increasing  number of markets see potential begin to be realized.

Click here for more market insight on our Los Angeles research group web page: Los Angeles – Research

Tweet this: December #research report caps off 2013 with 2.2-million-job #expansion & #unemployment falling to 6.7% @JLLNews

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