Bloomberg  reported on Jan. 9 that a U.S. Labor Department report released late last week that 252,000 jobs were added to the U.S. economy for the month of December, capping the best year for the labor market since 1999.

According to the Labor Department, the jobless rate dropped to 5.6 percent, the lowest level since June 2008. The additional 252,000 jobs added from December was surpassed in November by 353,000.

“We have continued, solid job growth,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, who projected a 240,000 gain. “It shows really solid momentum in U.S. growth. There are not a lot of places in the world where we see that these days.”

A Bloomberg survey reported that about 3 million more Americans found work in 2014, the most in 15 years and a sign companies are optimistic U.S. demand will persist even as overseas markets struggle. The drop in workers’ hourly wages means Federal Reserve policy makers are less likely to move up the timing of an interest-rate increase.

The unemployment rate, which is derived from a separate Labor Department survey of households, was projected to drop to 5 to 7 percent from 5.8 percent, according to the survey median. The jobless rate averaged 6.2 percent last year, down from 7.4 percent in 2013 and the biggest decrease since 1984.

Despite the good news on employment numbers, the average hourly earnings for all employees dropped from the prior month by 0.2 percent, the biggest since comparable records began in 2006. Earnings rose 0.2 percent in November, half as much as previously reported. They increased 1.7 percent over the 12 months ended in December, the least since October 2012.