Market Overview

US Dec Jobs Numbers



Fridays NFP  rose only 74K  dissapointing the markets expecting hefty jobs gains (med +200K)

Unemployment rate fell from 7% to 6,7% the lowest level since 2008 .

Severe weather conditions are cited as the main reason of temporary setback .Most of the economists do not see December data as the  reversal of positive trend in  US jobs market.

Not all the losses can be blamed on bad weather( est 100 K)  .Information sector shed 12K of jobs .Medical sector registered decline in employment  for the second time in history .

December data should not affect FED 's  perception of solid growth in US economy in coming months . FED is still expected to trim asset purchaes at subsequent meetings .

US economy is on well established recovery path.US labour market is expected to recover and reach pre -recession levels in coming months

source :Reuters

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Economics Markets


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