Employers added 312,000 jobs, far ahead of predictions of 177,000. Both were seen as more red flags that the economic expansion, now in its ninth year and the second longest on record, is losing steam.
The blockbuster United States jobs numbers starkly contrasted with the mounting fears for the global economy of recent weeks - which have seen stock prices tumble and confidence wane among corporations who foresee slowing demand and weakening sales in 2019. Retail trade employment, usually marked by larger swings in employment around the holiday season, added 23,800 jobs for the month.
Job gains were spread across a variety of industries with construction and manufacturing each posting gains of more than 30,000 jobs.
Attributing the job growth to Trump's policies, the Labour SecretaryAlexander Acosta said the American economy surpassed 150 million jobs for the first time ever. This is only the 13th month since 1970 that the unemployment rate has been below 4 percent, with 8 of these instances occurring under President Trump in 2018.
Wages advanced 3.1 percent on a year-on-year basis in November.
The unemployment metric that includes discouraged workers and workers holding part-time jobs for economic reasons remained flat at 7.6%. While that may sound ominous to some, economists stated this was due simply to more people entering the work force to seek employment. "Overall, the markets may have decided the Fed's work is done, but the economic data say otherwise", he said. Powell said the US central bank was "always prepared to shift the stance of policy and to shift it significantly" if necessary.
Powell stressed at a panel in Atlanta on Friday that he would not resign if the president asked him to do so. The president's attacks on the Fed and Powell over the central bank's interest rate increases have also anxious investors.
Health care and education saw the greatest net change in job growth in December, adding to a year of mammoth job creation in the services sector.
The markets have been turbulent amid concerns that the USA economy will be hurt by weakness in other countries.
El-Sissi says Egypt, Israel co-operate against militants Mr Sisi's reported confirmation of military co-operation with Israel over North Sinai might also be controversial in Egypt. The president confirmed in the interview that the Egyptian military has been working closely with its archenemy Israel .
US employers went on a hiring spree in December, adding a surprising 312,000 jobs and providing a dose of reassurance about the economy after a turbulent few months on Wall Street.
The average monthly increase in US construction jobs in 2018 was +23,000, which was +12.0% higher than 2017's average monthly increase of +21,000. The dollar .DXY surrendered earlier gains against a basket of currencies and U.S. Treasury yields rose.
The AP cited two economists, however, who predicted that the news won't be so positive for the new year. That sector added 280,000 jobs in 2018, topping the 2017 gain of 250,000.
Finally, along with the job market report from the U.S. Bureau of Labor Statistics, news also came that the ADP Research Institute released its jobs report, and the figures from that were also encouraging.
Data releases from Census Bureau and Bureau of Economic Analysis have been suspended during the shutdown, which started on December 22 amid demands by President Donald Trump for $5 billion in border wall funding. "Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short-term", said Lynn Franco, a senior director at the Conference Board.
"This is the 12th jobs report following the historic rewrite of our nation's tax code, and the trend remains the same: strong growth for America", the House Ways and Means Committee Ranking Member Kevin Brady said. It needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population. "More importantly, this year of success for our workers needs to be built upon", he said. Anecdotal evidence has been growing of companies experiencing difficulties finding workers, and raising wages to retain and attract employees.
House SpeakerNancy Pelosi who is from the opposition Democratic Party said while the latest jobs report is a good thing, the advantages would slip away due to the ongoing partial government shutdown. Construction employment rose by a strong 38,000 in December despite consistent complaints of labor shortages in the sector, and manufacturing payrolls increased by a robust 32,000.
And businesses are still searching for more workers.
The economy needs to add 80,000 jobs a month just to maintain current staffing levels.
Legendary wrestling interviewer "Mean Gene" Okerlund passed away weeks after he suffered a nasty fall in his Florida home. He was rushed to a hospital on Wednesday, where he died with his wife Jeanne at his side.
While the second piece of news was the unveiling of its new GeForce RTX-powered notebooks. "The long awaited RTX 2060 is here". The RTX 2070 will also come with your choice of the two games, and getting an RTX 2080 or 2080 Ti will get you both.
The rescue happened outside Malta's area of competence and the closest, safest prot of call would have been Tunisia or Lampedusa. Peter's Square at the end marking the feast of the Epiphany, Francis jumped into a diplomatic fracas between Italy and Malta.
But with LeBron + scorers out w/ injuries, from what I gather this isn't falling on Luke Walton as far as management is concerned. What made it even more impressive was that it was done without LeBron James for a majority of the second half.
The case caused widespread outrage and celebrities joined an appeal to find Jazmine's killer using the hashtag #JusticeForJazmine. Jazmine Barnes was shot in Houston , Texas, on December 30 after a suspect opened fire on the auto she was in with her family.
The Blu-ray and Digital releases also contain behind-the-scenes footage, interviews, and a look at the making of the film. The home release will also include an additional never-before-seen performance, "We Will Rock You".
Al Nahyan, who is also deputy chief of the UAE's armed forces, "will have a one-on-one meeting" with Khan, the statement said. This was the third interaction between the leadership of Pakistan and UAE in less than three months.
Mr Mattis, who worked with Mr Sweeney when he led the US Central Command, picked him to be his chief of staff in early 2017. Department spokeswoman Dana White also left her post after the president's surprise announcement on Syria.
Kevin Anderson clinches Tata Open Maharashtra title
Ivo Karlovic is the oldest player since 1977 to make a tour-level final . "Firstly want to congratulate Ivo for a great week. Celebrates birthday, is defeated in the semi-finals of the Belgian Steve Darcis in a competitive game 7:6, 4:6, 6:3.
Apple iPhone XI to come with three cameras on back
2018 wasn't exactly Apple's most successful year, as December saw a dip of 12 per cent in the company's shares. It was also revealed that Apple will launch three iPhones this year just like it did last year.
More than 200 MPs want PM to rule out no-deal Brexit
When the undecided and those who refused to answer were removed from the sample, the split was 54-46 in favour of remaining. Removing those who are undecided, the split was 53 per cent in favour of another referendum and 47 per cent against.
Military Takes Over Power In Gabon
Soldiers in the oil-rich West African country say they launched a coup "to restore democracy", a report by BBC on Monday said. However, the Military has described it as "a pitiful sight" and a "relentless attempt to cling onto power".
How iTunes content and AirPlay 2 came to Samsung TVs
This will allow you to push your photos, videos, music and other contents from your iPhone and iPad seamlessly onto their TVs. AirPlay 2 support is also being included, so users could stream content from their iOS or Mac devices to their television.