The U.S. economy added 156,000 non-farm payroll positions in December, according to today's monthly employment report released by the Bureau of Labor Statistics (BLS). This seasonally adjusted figure marks a -23.52% decrease from November's upwardly revised addition of 204,000 jobs, and falls significantly short of the Wall Street Journal's expectation of 183,000.

The national unemployment rate rose marginally from November's 4.6% to 4.7%, in line with economist's expectations, while the labor-force participation rate was unchanged at 62.7%.

Employers added an average of 180,000 jobs through November, making December's report a lackluster end to 2016. According to the Wall Street Journal, 2016 marked the lowest rate of job creation since 2012, in stark contrast to 2014 and 2015, when employment expanded at the fastest rate since 1999. However, wage growth made major gains in December, jumping $0.10 from November to $26. Hourly pay has increased 2.9% from December 2015, when average hourly earnings were $25.26, and December's figure marks the largest 12-month increase the recovery began in mid-2009.

The construction industry shed 3,000 payroll positions in December, following two months of growth. Residential construction employment also declined by 1.9K in December, likely impacted by seasonal slowdown. The manufacturing sector added 17,000 jobs following months of decline.

Lawrence Yun, chief economist for the National Association of Realtors, called the report "positive" but indicative of a decelerating trend. "Even in real estate, where there is a need for increased home construction and more commercial spaces, the weekly hours worked fell to 38.7 hours. The typical hours worked had been 39 for most of 2016 and was 39.6 exactly one year ago. This declining hours imply weak future hiring since existing workers will first be allowed to get in extra hours before adding new hires."

Yun continued, "Even with recent slowing month-to-month trends, it is likely construction worker demand will rise quite robustly later in 2017 from both the need to provide more housing units and from an economic stimulus measure that will no doubt include infrastructure spending. The construction wage growth was 3.0%, above most other industries and will likely accelerate higher.”

Read the full release from the Bureau of Labor Statistic for more key figures.