The stock market has certainly stumbled out of the gate to start 2016 as China’s stock market crashes and international tensions highten in the Middle East and North Korea. Investors were hoping for good news somewhere and boy did the December jobs report deliver.
— BLS-Labor Statistics (@BLS_gov) January 8, 2016
The 292k headline number is impressive but the Household Suvey, the less known of the two surveys conducted, was even more impressive.
Household report shows employment growth of +485k! Using my preferred 20/80 weights on h/h & payrolls says employment grew 331k!!!
— Justin Wolfers (@JustinWolfers) January 8, 2016
This month’s report capped off the best two year stretch for jobs growth in more than a decade:
If payrolls come in at 200K as forecast, 2014-2015 would mark the best two years for job growth since 1998-1999.
— Victoria Stilwell (@toristilwell) January 8, 2016
— MarketWatch Economy (@MKTWeconomics) January 8, 2016
Stocks were up early signaling a welcomed break to the market’s losing streak.
— Bloomberg Business (@business) January 8, 2016
We expect wages to expand in 2016 and earnings are beginning to trend in the right direction.
Best news: Earnings, the laggard of the recovery, showing some signs of acceleration. pic.twitter.com/meHUI1wjYk
— Ben Casselman (@bencasselman) January 8, 2016
The US economy continue to chug along even in the face of difficult overseas conditions, excellent news for equity investors.