Unemployment Falls in December on 252K New Jobs

Washington, DC, Jan. 9, 2015 -- The unemployment rate fell to 5.6% in December as the economy created 252,000 jobs to close out the year, according to the Labor Department.

That was better than economists' expectations for 240,000 jobs but down from the 353,000 jobs in November.

The labor force participation rate fell to a 36-year low of 62.7%.

Wages declined for the month by $0.05 an hour, indicating that the jobs created were lower paying.

Professional and business services created 52,000 new positions. Construction added 48,000, while bars and restaurants hired another 44,000 workers.