Page 25 - min.soc 9 jan,2016

U.S. NEWS A7
Saturday 9 January 2016

LIFE is Beautiful

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US Financial Front:

Employers hire at blistering pace, defying global trends

Waitress Laura Haege carries a breakfast to be serve at the raise rates after announc- prices rise further before to a far lesser degree than
Waveland Cafe, in Des Moines, Iowa. U.S. employers have ing its first increase in near- raising rates again. many other countries.”
steadily added jobs even as global growth has flagged and ly a decade last month. U.S. stocks rose modestly O’Keefe noted that global
financial markets have sunk. The jobs report for December on Steady hiring would reduce after the jobs report was is- trade accounts for only
Friday, Jan. 8, 2016, may provide some hints of whether that the supply of people seek- sued. The Dow Jones indus- about 30 percent of U.S.
trend can endure. ing jobs, which could lead trial average was up about economic activity, one of
to higher pay and possibly 24 points in late morning af- the lowest such percent-
(AP Photo/Charlie Neibergall) help lift inflation closer to ter falling sharply all week. ages in the world.
the Fed’s 2 percent target. For all of 2015, employers Kevin Logan, chief U.S.
C. S. RUGABER the best three-month pace Many economists expect added 2.65 million jobs, economist at HSBC, says
AP Economics Writer in a year. the Fed to raise its bench- a monthly average of U.S. factories remain vul-
WASHINGTON (AP) — Even as many more jobs mark rate three times this 221,000. That made 2015 nerable to slowing global
American employers add- have been added, the un- year. Stuart Hoffman, chief the second-best year for growth. But manufactur-
ed a robust 292,000 jobs employment rate has held economist at PNC Finan- hiring since 1999, after 2014. ing makes up less than 9
in December, suggesting at 5 percent for the past cial Services, says the ro- “2015 went out with a percent of U.S. employ-
that the U.S. economy is so three months because bust jobs data means the mega-bang,” says Patrick ment. Many factories are
far defying global weak- nearly 1 million more Amer- next increase will likely be O’Keefe, director of eco- now highly automated
ness and growing solidly. icans have begun seeking in March. nomic research at the con- and don’t employ as many
The strong hiring under- jobs since September. That Still, the jobs report con- sulting firm CohnReznick. people as they used to.
scores the resilience of influx has kept the number tained no signs of inflation. “It speaks to the underlying “People are consuming
the United States at a time of unemployed nearly un- That led other economists strength of the domestic things that aren’t things,
of financial turmoil stem- changed at 7.9 million. such as Alan Levenson at T. economy. The United State like data plans, restaurant
ming from China’s slowing A resilient U.S. economy Rowe Price to say that Fed is intertwined with the in- meals, health care and en-
economy and plummeting will likely help some other officials may need to see ternational economy but tertainment,” Logan said.q
stock market. Most econo- countries by drawing in
mists expect U.S. consumer more imports, especially
spending to continue to as the higher-valued dol-
offset overseas weakness, lar holds down the prices
though many foresee only of foreign goods. The World
modest U.S. growth. Bank said this week that
In its monthly jobs report Fri- Mexico and emerging
day, the Labor Department markets in Central America
said the unemployment should fare better than the
rate was 5 percent in De- rest of South America be-
cember for a third straight cause of their proximity to
month. More Americans the healthier U.S. economy.
started looking for jobs and Still, the effect could be lim-
found them. ited if Americans’ spending
The government also said remains concentrated in
employers added a com- services — from restaurants
bined 50,000 more jobs in to health care — rather
October and November than factory goods.
than it had previously es- At the same time, Friday’s
timated. For the July-Sep- solid jobs report could
tember quarter, hiring av- make it more likely that the
eraged 284,000 a month — Federal Reserve will further