WHOA! Job creation surges in December

CNBC ^ | 01/08/2016 | Jeff Cox

[SeekAndFind]

The U.S. economy closed out 2015 with a huge round of job creation.

Nonfarm payrolls grew by 292,000 during December, according to a Bureau of Labor Statistics report Friday that showed employment momentum as the year wound down. The unemployment rate was 5 percent. A separate, more encompassing measure that accounts for those who did not look for work in the past month or were working part time for economic reasons -- the underemployed -- head steady as well, at 9.9 percent.

Economists had been expecting 200,000 new positions and the unemployment rate to hold steady. Stock market futures temporarily jumped after the report, with Wall Street bidding Friday to halt the worst market start in history. Government bond yields edged higher, with the benchmark 10-year note yielding about 2.18 percent.

The one disappointment from the report came in wages, which actually fell slightly. Average hourly earnings declined 1 cent, translating to an annualized gain of 2.5 percent. Economists had been expecting a gain of 0.2 percent monthly and 2.8 percent annualized.

The reason for the weak wage data could be because job creation was greatest in professional and business services, which added 73,000, 34,000 of which were temporary positions likely added in conjunction with holiday hiring. The average work week was unchanged at 34.5 hours.

[Chode]

and Macy's just dumped 4000+

[<1/1,000,000th%]

It'll be revised downward over the next year.

[Grampa Dave]

Big lies!

Stockman: Only 11,000 Jobs Last Month, Not 292,000
NewsMax ^ | 01/09/2016 | David Stockman
Posted on 1/11/2016, 4:06:12 PM by GilGil

So what happened to the non-seasonally adjusted (NSA) job count in December at similar points late in the course of prior cycles? Well, in December 1999 about 140,000 jobs were added and in December 2007 there was a NSA gain of 212,000. This time we got the magnificent sum of 11,000, and by the way, last year was only 6,000.

The real news flash in the December “jobs” report, therefore, is that even by the lights of the BLS’ rickety, archaic and virtually worthless establishment survey, the domestic economy is dead in the water. We are not on the verge of “escape velocity,” as our foolish monetary politburo keeps insisting; the US economy is actually knocking on the door of recession.

http://www.freerepublic.com/focus/f-news/3382446/posts