Payrolls Rise and Unemployment Rate Dips, But Wages Still Stifled

U.S. employers added more jobs than expected in December, but a dip in hourly wages took some shine off the report. The latest jobs report showed that U.S. employers added 252,000 jobs last month, after November's non-farm payrolls were upwardly revised to 353,000 jobs, according to the Labor Department. The month marked the eleventh straight month of payrolls increases above 200,000. Also, the unemployment rate fell 0.2% to 5.6%, the lowest level since June 2008 and beneath the 5.7% rate Wall Street expected. However, wages in the U.S. remain suppressed. The report showed a five-cent drop in average hourly earnings, a 0.2% month-on-month drop, versus expectations for a 0.2% rise.