The Bureau of Labor Statistics reported today that 252,000 jobs had been created in December, meaning a total of 2.952 million jobs were created in all of 2014, the fastest pace of job growth since 1999, when just over 3 million jobs were created.
The most recent jobs numbers cap the best year for the U.S. economy since the late 1990s. One negative note however, is that average hourly earnings dropped 5 cents to $24.57, following a 6 cents bump last month.
One difference between 2014 and 1999 is the labor force participation rate, which measures how much of the adult population is working or looking for work. It declined in December slightly and has been falling since the late 90s.