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Breaking: December Jobs Numbers Crush Expectations

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The U.S. economy added over 270,000 jobs in December, smashing estimates by nearly 100,000.

ADP/Moody’s Analytics survey released on Thursday found the private sector’s new positions increased by 271,000, greatly exceeding the prediction of 178,000 based on a survey of economists by Reuters.

CNBC reported December’s survey results are the best since February 2017, which saw 280,000 jobs added.

The 271,000 figure is also marked gain from November, with 157,000 new jobs.

“Businesses continue to add aggressively to their payrolls despite the stock market slump and the trade war. Favorable December weather also helped lift the job market,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement.

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“At the current pace of job growth, low unemployment will get even lower,” he added.

Fox Business Network’s Charles Payne tweeted, “Monster Jobs Report … this is huge news for the economy.”

Do you think the U.S. economy will continue to grow in 2019?

According to CNBC, “Professional and business services led the way with 66,000 new positions, education and health services contributed 61,000 and leisure and hospitality added 39,000.”

Meanwhile, construction jobs grew by 37,000 and manufacturing added 12,000.

While the jobs numbers were strong, layoffs also rose in December by 35.3 percent to 43,884, based on numbers put together by the employment firm Challenger, Gray & Christmas.

The Bureau of Labor Statistics reported on Thursday the unemployment rates were lower in November than a year earlier in 290 of 388 metropolitan areas, and a total of 104 areas had jobless rates of less than 3 percent.

Nationwide unemployment rate stood at 3.5 percent in November, down from 3.9 percent the previous year.

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The lowest unemployment rate for the month was in Ames, Iowa at 1.2 percent, while the highest was in El Centro, California at 18.1 percent.

In 2018 overall, the U.S. economy had its strongest annual growth in over a decade, with the Gross Domestic Product likely topping 3 percent, while the nation experienced its lowest unemployment rate in nearly 50 years.

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Randy DeSoto has written more than 1,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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