U.S. economy adds 155K jobs; unemployment rate stays at 7.8%

Employers across America added 155,000 jobs in December, a gain that shows hiring held up during tense negotiations over the so-called fiscal cliff in Washington, D.C. However, the job growth wasn’t enough to push down the unemployment rate, which stayed at 7.8% last month, according to a Labor Department report released today. November’s rate was revised higher from an initially reported 7.7%. Stock futures rose modestly after the report was released. Robust hiring in manufacturing and construction fueled the December gains. Construction firms added 30,000 jobs, the most in 15 months. That increase likely reflects additional hiring needed to rebuild after Superstorm Sandy and also solid gains in home building that have contributed to a housing recovery. Manufacturers gained 25,000, the most in nine months. Even with the gains, hiring is far from accelerating. Employers added an average of 153,000 jobs a month last year, matching the monthly average in 2011. Employers added 1.84 million jobs in 2012, the same as the previous year. The unemployment figures come from a separate survey of households, while the job counts are derived from a survey of businesses. The Associated Press has more details in the full story here.