Even with fear of a global economic slump depressing stock markets, Friday's jobs report for December is expected to offer reassurance that the USA economy remains sturdy and on track to expand for a 10th straight year. "Either weakening demand will lead firms to dial back the pace of hiring or the robust pace of hiring will lead firms to ramp back up production".
The Dow Jones Industrial Average closed up 746 points, or about 3.3 percent, after plunging 660 points on Thursday.
Apple's downbeat announcement sent its stock plunging 10 percent Thursday, but it was up almost 2 percent Friday morning.
Major companies such as Apple say their sales are being jeopardized by the tariff war between Washington and Beijing, and an important gauge of US manufacturing posted its steepest decline in a decade Thursday.
Nonfarm payrolls probably increased by 177,000 jobs last month, according to a Reuters survey of economists, after rising 155,000 in November. Factory activity in China and the United States have both weakened, with the Institute for Supply Management's USA manufacturing index on Thursday posting its steepest decline in a decade. And attacks by Trump on the Federal Reserve over its rate increases have raised doubts about Chairman Jay Powell's status - a concern for both the markets and the economy.
Data releases from Census Bureau and Bureau of Economic Analysis have been suspended during the shutdown, which started on December 22 amid demands by Trump for $5 billion in funding for a wall on the U.S. -Mexico border.
"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.
Health care and education added 82,000 jobs last month, the largest jump in almost nine years. Restaurants and drinking placed posted a net gain of 40,700 jobs.Читайте также: Alleged Tri-Folding Xiaomi Smartphone Appears In Leaked Video
Manufacturing payrolls increased by 32,000 jobs in December, but could surprise on the downside after a measure of factory employment fell last month.
With the labor market viewed as at or beyond full employment, job growth is expected to slow this year as workers become more scarce.
Fresh Coat Painters, based in Cincinnati, plans to almost double the 300 employees who paint homes and businesses as it expands this year across this country.
Tara Riley, president of Fresh Coat, said that franchise owners were having to actively search for workers instead of simply posting ads in hope of finding workers.
The Labor Department has not been affected by the partial shutdown of the U.S. government and will continue to publish economic data complied by its statistics agency, the Bureau of Labor Statistics. The unemployment rate among people eligible for benefits was unchanged at 1.2 percent.
Hiring has easily eclipsed that pace. The strong wage gain makes a policy change unlikely.
The December jobs gain pushed total USA employment above 150 million jobs for the first time. The increase in job numbers exceeds that of the prior month, which saw 250,000 new jobs added to the economy. It needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population. "When that happens, we shouldn't panic".При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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