MercoPress. South Atlantic News Agency
A robust US economy keeps adding jobs: 284.000 a month in the fourth quarter
Professional and business services, construction, health care, and food services all saw job increases. October and November figures were also revised up United States jobs growth remained solid in December as the economy added 292,000 jobs, beating expectations. The Bureau of Labor Statistics data also showed the jobless rate held at its seven-and-a-half year low of 5%.
Professional and business services, construction, health care, and food services all saw job increases. In addition, the figures for October and November were revised up to show 50,000 more jobs created than previously reported.
However, not all sectors saw job gains in December - mining continued to decline, dropping by 8,000, and taking the total jobs lost in the sector in 2015 to 129,000.
In the fourth quarter of 2015, US economy created an average of 284,000 jobs a month, the best three-month pace in a year.
The solid figures suggest resilience in the US economy at a time of market turmoil in China, the world's second biggest economy, and global economic uncertainty.
Robust consumer spending has encouraged employers to hire staff, offsetting a drop in US exports in response to a stronger dollar.
“It is one more sign the domestic economy continues to chug along,” said Kate Warne, an investment strategist at Edward Jones.
“It is not a game changer in terms of faster economic growth, but it offsets some of the other indicators that recently have suggested the economy might be slowing down.”
The figures come after the first US interest rate rise in nearly 10 years in December. The Federal Reserve raised overnight interest rates last month by a quarter of a percent to between 0.25% and 0.50%.
Top Comments
Disclaimer & comment rules-
-
-
Read all commentsSunshine pumpers.
Jan 09th, 2016 - 04:54 pm 0Lol.
You can see the problem facing the FED.
Jan 10th, 2016 - 12:31 pm 0What metrics do they choose to make decisions on when they are unbelievable?
If you look at the blogs in the US it is just like Britain. Many people who were sacked didn't bother to try and find a job after being told they weren't wanted by every job interview they managed to get, resulting in a massive black economy.
You only have to look how desperate Camoron was in allowing the earning of prostitutes and other 'sex workers' to be incorporated in the official figures to realise the world has gone to pot.
The official statistics tell the story just fine.
Jan 10th, 2016 - 04:33 pm 0The percentage of the population that is employed fulltime - this is the gauge.
Manufacturers indexes in combo with junk energy paper is what is driving the selloff.
You have know what to look for.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!