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This is the strongest employment report of this economic cycle -- hands down. While we've seen greater job gains in some months, the plus-300,000 number along with another increase in average hourly earnings clearly signals that the economic expansion ended 2018 on strong footing. Perhaps most surprising was the two-tenths rise in the unemployment rate due to an increase in participation. It's one month of data, but talk of the Fed cutting rates in the near future should be off the table for now.
It wasn't just the scorching payrolls number, but also the average hourly earnings print, which jumped by 3.2%, higher than both the November 3.1% and the 3.0% consensus; in fact it was the highest number since April 2009!
originally posted by: lakenheath24
a reply to: Grambler
That is excellent and all, but what KIND of jobs? December is usually temp/seasonal jobs. IE low paying store peeps handing out perfume samples to lazy men shoppers(like me).
originally posted by: zinqaltel
But unemployment went up to 3.9%.