Dec employment gain caps best year since 1999

Washington

EMPLOYMENT rose more than forecast in December and the jobless rate declined to 5.6 per cent, wrapping up the best year for the labour market since 1999 and adding to evidence the US is a standout in the global economy.

The addition of 252,000 jobs followed a 353,000 rise the prior month that was more than previously estimated, a Labour Department report showed on Friday in Washington. The report wasn't all good news as earnings unexpectedly declined from a month earlier.

An additional 2.95 million Americans found work in 2014, the most in 15 years and a sign companies are optimistic US demand will persist even as overseas markets struggle. The combination of job growth and cheaper petrol will probably help stretch workers' paychecks and sustain con…