«Breaking News» US economy adds 312,000 jobs in December, nearly DOUBLE the number forecast by economists

The December jobs report has blown past economist expectations, showing that the U.S. economy added 312,000 jobs for the month - the largest monthly gain since February.  

Total non-farm payroll employment increased by well more than the 180,000 new jobs that economists had forecast, according to the Bureau of Labor Statistics report on Friday.

Stock prices surged on the strong jobs report, with the Dow Jones Industrial Average rocketing up as much as 800 points in afternoon trading. 

President Donald Trump was quick to react to the positive report, tweeting in all caps: 'Great jobs numbers just announced!'  

The December jobs report has blown past economist expectations, showing that the U.S. economy added 312,000 jobs for the month. Construction workers are seen in a file photo

This chart shows the number of jobs, in thousands, added by each sector in December (blue bars). The grey bars show the average monthly jobs added in the sector for the past year

The BLS report also showed wages continuing to grow after years of stagnation, with the average weekly wage up 0.7 per cent from a month prior and 3.2 per cent from a year ago. 

Despite the big employment gains, unemployment ticked up slightly in December, to 3.9 per cent from 3.7 per cent the month prior. Adult men and blacks were the main groups to see slight increases in unemployment. 

Driving the increase in unemployment was an increase of labor force participation, or the percentage of those able to work who seek a job. 

Labor force participation was up 0.2 percentage points for December, to 63.1 per cent, the highest level since September 2017. 

This chart shows the number of jobs added, in thousands for each month since January 2015. The red lines show the annual average of monthly jobs added, with 2018's average an estimate

Among the unemployed, the number of people who quit their jobs voluntarily to seek other employment increased significantly in December, by 142,000 to 839,000. 

Employment at construction sites snapped back after being restrained by unseasonably cold temperatures in November.  

The strong jobs numbers contrasted sharply with chaos on Wall Street, where extreme volatility and investor fears drove the major stock indexes to end 2018 at a loss.

Fueling investor concerns are President Donald Trump's trade war with China, and a government shutdown that shows no sign of ending.

This chart shows the overall unemployment rate (red) as well as the unemployment rates for women (black) Hispanics (yellow) and blacks (purple)

However, steady job growth suggests that such risks might be - for the moment, anyway - overblown. 

'The jump in payrolls in December would seem to make a mockery of market fears of an impending recession,' said Paul Ashworth, chief economist at Capital Economics in Toronto. 

'This employment report suggests the U.S. economy still has considerable forward momentum.' 

The strong employment report likely keeps the Federal Reserve on course to continue raising interest rate this year, deepening its rift with Wall Street and Trump. 

The U.S. central bank raised rates four times in 2018. Trump has chastised the Fed and its chairman, Jerome Powell, repeatedly for the rate increases. 

Powell is due to appear on a panel with his two predecessors about two hours after the report's release. 

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https://hienalouca.com/2019/01/04/us-economy-adds-312000-jobs-in-december-nearly-double-the-number-forecast-by-economists/
Main photo article The December jobs report has blown past economist expectations, showing that the U.S. economy added 312,000 jobs for the month – the largest monthly gain since February.  
Total non-farm payroll employment increased by well more than the 180,000 new jobs that economists had forecast, a...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





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