December Jobs Report Demolishes Expectations, Adds 312k Jobs – NTK Network December Jobs Report Demolishes Expectations, Adds 312k Jobs

December Jobs Report Demolishes Expectations, Adds 312k Jobs

Just about 180,000 jobs were anticipated to be added during the month of December.

By NTK Staff | 01.04.2019 @9:16am
December Jobs Report Demolishes Expectations, Adds 312k Jobs

The U.S. economy added a whopping 312,000 jobs during the month of December, according to a new monthly report from the Bureau of Labor Statistics released Friday.

Analysts anticipated just about 180,000 jobs to be added last month, but the economy surged well past that mark.

Despite the stronger-than-expected numbers, the unemployment rate ticked up slightly in December, rising from 3.7 percent in November to 3.9 percent.

Even better, the hourly earnings rate rose in December and overall for the year, according to Yahoo! Finance reporter Emily McCormick:

Average hourly earnings – a closely watched metric of inflation pressures in the economy – increased 0.4% over last month and 3.2% over the previous year. This exceeded expectations of wage growth of 0.3% over last month and 3% over last year. Wages rose 3.1% over the prior year in both November and October.

What’s not included in this December report is the impact of the partial government shut down, as the survey was conducted before that took place. Should the shutdown continue well into January, expect that month’s report to be impacted significantly.

The report is welcome news to many who have witnessed increased volatility in the U.S. stock market of late and increasing interest rates from the federal reserve.

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