Jobs Soar – Beat Expectations by Wide Margin

Tags: Currents National News

Currents News Staff

The labor department’s monthly jobs numbers, delivering good news for President Trump.

“This really took people by surprise. This is a great number,” said Trump.

The U.S. economy created 312,000 jobs in December, rounding out 2.6 million jobs added in 2018.

Unemployment, at 3.9-percent, a slight uptick over the last update, but the result of more Americans getting into the labor force.

The report, beating expectations, and tamping down recession fears amid recent market volatility.

“There is no recession around the corner. Growth is slowing, and that’ll become more obvious as we make our way through 2019, but I don’t think a recession is likely, and that’s the message in this report,” said Mark Zandi, Chief Economist, Moody’s Analytics.

The ongoing trade dispute with China has dragged on U.S. and global markets and investors have been wary of the fed’s plan for more interest rate hikes.

On Friday Federal Reserve Chairman Jerome Powell, noting the strengths in the U.S. economy like the jobs market said, the fed will remain flexible.

“Markets are expressing concerns, again about global growth in particular, and trade negotiations that are related to that. And I’ll just say, we’re listening carefully to that,” said Powell.

380,000 furloughed government workers were not factored into the report, the numbers were collected before the partial government shutdown began.

A shutdown that continues could show up in the numbers released next month.