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WASHINGTON (AP) — Despite weakness in economies overseas -- and particularly in China -- the latest jobs report suggests that the U.S. economy is growing solidly.
The report shows that employers added 292,000 jobs in December -- nearly 100,000 more than analysts had been expecting. And job growth was stronger than initially reported in October and November.
Still, the unemployment rate held at 5 percent for a third month, because nearly a million more Americans have started looking for work since September.
Today's solid jobs report could make it more likely that the Federal Reserve will further raise interest rates -- possibly at the next meeting in March. But some economists say the Fed may need to see prices rise further before raising rates again. Today's report contained no signs of inflation.
Economist Patrick O'Keefe of the consulting firm CohnReznick says the report shows that 2015 "went out with a mega-bang." He says the U.S. isn't being dragged down by the global slump because it's not as intertwined with the international economy as many other nations are.
%@AP Links
162-a-12-(David Buik (BYOO'-wihk), market commentator, Panmure Gordon and Company, in AP interview)-"Fed rate come March"-Market analyst David Buik says today's unemployment numbers in the U.S. could affect interest rates. (Watch for dating: If the 8:30 aes report reflects creation of fewer than 200,000 jobs this cut should not be used.) (8 Jan 2016)
<<CUT *162 (01/08/16)££ 00:12 "Fed rate come March"
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