sunny.png
Monday January 20th, 2020 10:33AM

US employers expected to have added 160,000 jobs in December

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — The U.S. job market appears to be entering 2020 on a solid footing.

Economists expect that Friday's jobs report will show job gains of 160,000 in December, with the unemployment rate holding steady at 3.5%, according to the data provider FactSet.

But key in the report will be whether the decade-plus expansion causes average hourly earnings to climb above the 3.1% annual gain seen in November as employers find themselves paying more to attract workers.

“We look for another strong gain in payrolls in December, although not as strong as November's 266,000 surge," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. The jump in hiring in November was aided by the end of a strike by workers at General Motors that caused the number of manufacturing jobs to climb by 54,000.

Expectations for the employment report were amplified by a report Wednesday from payroll processor ADP that showed private companies added 202,000 jobs in December. Still, the ADP report often varies from the government's more comprehensive surveys.

U.S. employers added 1.98 million jobs through the first 11 months of 2019. That's a solid number, although hiring may slow because the number of unemployed people seeking work has fallen to 5.8 million, the lowest level since 2000. With fewer unemployed people hunting for jobs, hiring might slow organically.

The steady hiring growth during the expansion has contributed to gains in consumer spending. Retail sales during the crucial holiday shopping improved 3.4% compared to the prior year, according to Mastercard SpendingPulse.

But online shopping accounted for much of that increase as e-commerce sales rose nearly 19%. Retailers have shed roughly 30,000 jobs in the 12-month period that ended in November because of this shift.

Manufacturing struggled last year because of trade tensions between the United States and China coupled with slower global economic growth. Hiring in the sector has declined as a result.

  • Associated Categories: Local/State News, Associated Press (AP), AP Business, AP Business - Economy
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Iran says Boeing can probe plane crash amid new allegations
Iran's state media say authorities have invited Boeing to take part in the investigation into a Ukrainian jetliner that crashed, killing all 176 people on board
2:53AM ( 19 minutes ago )
US employers expected to have added 160,000 jobs in December
The U.S. job market appears to be entering 2020 on a solid footing
2:38AM ( 33 minutes ago )
After Super Bowl, sports books preparing for XFL bets
The NFL playoffs and the upcoming Super Bowl are front and center for many football fans
2:32AM ( 39 minutes ago )
Associated Press (AP)
Iran invites Boeing to probe plane crash that killed 176
Iran's state media say authorities have invited Boeing to take part in the investigation into a Ukrainian jetliner that crashed, killing all 176 people on board
1:22AM ( 1 hour ago )
On streets of Tehran, relief for now at no wider conflict
Many Iranians say they are relieved that neither their country nor the United States appear primed right now for a more direct military confrontation
1:08AM ( 2 hours ago )
Boeing papers show employees slid 737 Max problems past FAA
Newly released Boeing documents show company employees knew about problems with flight simulators for the now-grounded 737 Max jetliner and talked about misleading regulators
12:43AM ( 2 hours ago )
AP Business
In Ohio, Trump to hold 1st campaign rally of election year
President Donald Trump is heading into his first campaign rally of the year flush with cash, chafing at impeachment and hoping to capitalize on his order to take out Iran's top general
4:52PM ( 10 hours ago )
US stocks set records as fear recedes from market; gold dips
Stocks around the world climbed on Thursday, and U.S. indexes hit records as markets continued a rally sparked after the United States and Iran appeared to step away from the edge of war
4:32PM ( 10 hours ago )
Technology rally leads US stock indexes to more record highs
A rally in big technology companies including Apple sent major U.S. stock indexes to more record highs on Wall Street Thursday
4:05PM ( 11 hours ago )
AP Business - Economy
Iran says Boeing can probe plane crash amid new allegations
Iran's state media say authorities have invited Boeing to take part in the investigation into a Ukrainian jetliner that crashed, killing all 176 people on board
2:53AM ( 19 minutes ago )
After Super Bowl, sports books preparing for XFL bets
The NFL playoffs and the upcoming Super Bowl are front and center for many football fans
2:32AM ( 39 minutes ago )
Australians leave homes as heat, winds escalate fire danger
Thousands of people are fleeing their homes and helicopters are dropping supplies to towns at risk of wildfires as hot, windy conditions threaten already fire-ravaged southeastern Australian communities
2:13AM ( 58 minutes ago )
US employers expected to have added 160,00 jobs in December
The U.S. job market appears to be entering 2020 on a solid footing
2:09AM ( 1 hour ago )
Asian shares rise as worries recede on Iran, US tensions
Asian shares are rising as worries recede that the United States and Iran might be stepping closer to the edge of war, and U.S. indexes hit records overnight
2:02AM ( 1 hour ago )