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Friday, 8 January 2016

US economy adds 292,000 jobs in December


US workers with billboard
US jobs growth remained solid in December as the economy added 292,000 jobs, beating expectations.
The Bureau of Labor Statistics data also showed the jobless rate held at its seven-and-a-half year low of 5%.
Professional and business services, construction, health care, and food services all saw job increases.
In addition, the figures for October and November were revised up to show 50,000 more jobs created than previously reported.
However, not all sectors saw job gains in December - mining continued to decline, dropping by 8,000, and taking the total jobs lost in the sector in 2015 to 129,000.
In the fourth quarter of 2015, US economy created an average of 284,000 jobs a month, the best three-month pace in a year.
The robust figures suggest resilience in the US economy at a time of market turmoil in China, the world's second biggest economy.
The figures come after the first US interest rate rise in nearly 10 years in December.
The Federal Reserve raised overnight interest rates last month by a quarter of a percent to between 0.25% and 0.50%.
In the UK, the FTSE 100 share index jumped after the latest jobs figures, trading around 0.75% higher than the previous day's closing value.

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