Brilliant POTUS!
U.S. gains 312,000 jobs in 10-month high that shattered Wall Street forecasts
By Jeffry Bartash
Published: Jan 4, 2019 9:45 a.m. ET
The numbers: The U.S. gained 312,000 new jobs in December, capping off the biggest increase in hiring in three years and showing that second longest economic expansion in U.S. history still has plenty of staying power despite growing worries about a slowdown.
The surge in hiring was the largest since February. Economists surveyed by MarketWatch had forecast a 182,000 increase.
Hiring in November and October was also stronger than originally reported, the government said Friday.
The unemployment rate, meanwhile, rose to 3.9% from a 49-year low of 3.7%. The percentage of working-age Americans in the labor force climbed to a one-and-a-half-year high as more people looked for jobs. That’s usually seen as a good sign since it means people think work is easier to find.
Strong hiring has also given workers more bargaining power with their bosses. The amount of money the average worker earns climbed 11 cents, or 0.4% to $27.48 an hour last month.
What’s more, the increase in pay in the past 12 months rose to 3.2% from 3.1%, matching a post-recession high set earlier in the year.
The strong jobs gain at year end presents a quandary for the Federal Reserve and Wall Street.
Other reports suggest the economy is slowing, but a tight labor market and rising wages could also put upward pressure on inflation. The Fed has to keep inflation at bay without slowing the economy if it continues to raises rates as expected.
https://www.marketwatch.com/story/us-gains-312000-jobs-in-final-month-of-2018-soaring-above-wall-street-forecast-2019-01-04?siteid=rss&rss=1