Friday, January 08, 2016

NY Times Headline - Robust Hiring in December Caps Solid Year for U.S. Jobs

In an impressive sprint at 2015’s end, employers added 292,000 workers to their payrolls in December, the government said on Friday, punctuating a year of healthy growth.
“I think this really is illustrative of the fact that economic momentum in the United States is still awfully strong,” said Carl Tannenbaum, chief economist at Northern Trust. “In spite of the craziness we’ve seen from Asian markets this week, the fundamentals here at home are still solid.”

In 2014 the NY Times reported average job growth of 260,000 per month while the Economic Policy Institute reported 246,000, in either case at that point it was estimated that the US would return to full employment in late 2017.  In 2015 the NY Times is reporting average growth of 221,000 per month. That is robust and has us on track to full recovery?   To me that seems like backsliding.  With the current troubles in China I am expecting those numbers to go down for 2016.
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