The U.S. economy created a lot of jobs in December.
312,000 jobs were created in December and 2.6 million jobs were created in all of 2018 – more than in either 2016 or 2017. #JobsReport #BLSdata pic.twitter.com/e9krC1rjMN
— CEA (@WhiteHouseCEA) January 4, 2019
As in, more than 312,000.
DEC JOBS: +312K https://t.co/3k3inkJ2Hg
— DRUDGE REPORT (@DRUDGE_REPORT) January 4, 2019
And the good news is it doesn’t appear likely that we will enter another recession.
Absolutely no recession signals in this jobs report. It may be some snap back from previous months' weather distortions. But it's very solid. Only concern about it is what the Fed does now. https://t.co/G2aiBR0xjw
— Ben White (@morningmoneyben) January 4, 2019
Looks like the job market didn't get the recession memo. Jobs up 312K(!); unemp up but mostly for good reason (more people in workforce), wkly hrs up, nom wages up 3.2%, 70% of pvt inds create net jobs. Strong report; very inconsistent with equity market's swoons.
— Jared Bernstein (@econjared) January 4, 2019
The report showed positive signs on just about every metric.
The manufacturing sector continues to show strength, with 284,000 manufacturing jobs created in 2018 – the most in almost 20 years.
— CEA (@WhiteHouseCEA) January 4, 2019
Nominal average hourly wages rose by 3.2 percent, the 3rd consecutive month over 3 percent. Prior to October, nominal wages hadn’t grown by over 3 percent since 2009.
— CEA (@WhiteHouseCEA) January 4, 2019
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Real wages (taking inflation into account) are also growing. Based on the most recent PCE price index data from November, inflation in the past year was 1.8 percent (December data will be available later this month).
— CEA (@WhiteHouseCEA) January 4, 2019
While the unemployment rate increased to 3.9 percent in December, it went up for the right reasons – more people are jumping back into the labor market.
— CEA (@WhiteHouseCEA) January 4, 2019
The labor force participation rate in December rose 0.2 p.p. to 63.1 percent. LFPR for prime-age adults rose by 0.1 p.p. to 82.3 percent.
— CEA (@WhiteHouseCEA) January 4, 2019
In spite of the continued low unemployment rates over the past year, there is still what economists call “labor slack” – meaning there is a pool of potential workers on the sidelines to allow for continued employment and overall economic growth.
— CEA (@WhiteHouseCEA) January 4, 2019
In Q4 of 2018, 73.1 percent of workers entering employment came from out of the labor force rather than from unemployment.
— CEA (@WhiteHouseCEA) January 4, 2019
And the DOW responded in a positive way as well.
Dow jumps 3% amid Powell comments, jobs report beat https://t.co/9Dt5r5ZuxU pic.twitter.com/aJgDb5ztLK
— CNBC Now (@CNBCnow) January 4, 2019
Of course, we all know who is REALLY responsible for this uptick.
— JWF (@JammieWF) January 4, 2019
Or maybe it’s the magic wand.
Remember when Obama said you would need a magic wand to do this? https://t.co/H8traU7P33
— The Financial Guys (@finguys) January 4, 2019
Good way to start 2019.
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