Jobless Rate Drops to 5%

Jobless Rate Drops to 5%

An estimated 292,000 jobs were added by employers in December of 2015. This number exceeds the highest estimate in a Bloomberg survey. The jobless rate has fallen to 5% as jobless individuals enter the workforce. “Stocks and the dollar climbed after the report showed durable strength in the job market that indicates employers were optimistic about the economy’s prospects just before the recent rout in global financial markets. Federal Reserve policy makers, who raised interest rates in December for the first time in almost a decade and signaled further moves would be gradual, are counting on tighter labor conditions to lead to a pickup in wages and inflation.” Some experts claim that this should calm some fears about the US economy losing growth momentum.

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