Jobs Report Stronger Than Expected

Number beats estimates as unemployment rate remains unchanged at 5%
By Newser Editors and Wire Services
Posted Jan 8, 2016 8:05 AM CST
Job seekers line up during a National Career Fairs job fair in Chicago on Friday.   (AP Photo/M. Spencer Green)

(Newser) – The Labor Department issued a stronger-than-expected jobs report Friday morning: US employers added 292,000 jobs in December, beating expectations and leaving the unemployment rate unchanged at 5%. Given that economists were expecting a mark closer to 200,000, the figure represents a "huge round of job creation" to end the year, reports CNBC. The department also raised the number of jobs added in October and November, bringing the average monthly jobs gain for the year to 221,000, reports the Wall Street Journal.

"That’s below 2014’s monthly average of around 260,000," writes Kristen Scholer. "But it’s still above what’s been the psychologically-important 200,000 level." The take from AP writer Christopher Rugaber: "The strong figures underscore the resilience of the US economy at a time of global turmoil stemming from China's slowing economy and plummeting stock market." China's markets were much calmer Friday morning, notes MarketWatch, boding well for US exchanges. (Read more jobs stories.)

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