Friday, January 8, 2016

U.S. payrolls surge in December in boost to economic outlook

News
Economic cheerleaders, citing surging payrolls, a lagging and frequently revised economic time series, keep the majority on the wrong side of the trade as long as possible. The Economic Activity Composite (EAC), a proxy for future economic growth that ignores payrolls, tells the independent-thinking minority that a US recession in 2016 is favorable. The difference in recognition, the fuel that drives the coming panic, only becomes an issue after economic reality completely invalidates the majority's beliefs.



Headline: U.S. payrolls surge in December in boost to economic outlook

WASHINGTON (Reuters) - U.S. payrolls surged in December and the job count for the prior two months was revised sharply higher, showing the economy on solid ground despite a troubling international backdrop.

Nonfarm payrolls increased by 292,000 last month, the Labor Department said on Friday. The unemployment rate held steady at a 7-1/2-year low of 5 percent even as more people entered the labour force, a sign of confidence in the job market.


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