US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
US non-farm payrolls data published today (January 4) showed signs of continued improvement in the labour market, despite widespread fears of a slowdown.
According to the data from the Bureau of Labor Statistics, the US economy added 312,000 jobs in December, despite a 0.2 percentage point rise in the unemployment rate, which hit 3.9%. The consensus forecast among analysts had been for job gains of 177,000.
Data on wages was also positive. Average hourly earnings were up 3.2% year-on-year, the
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