Robust employment report underscores U.S. economic strength [Reuters (UK)]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Reuters
Robust employment report underscores U.S. economic strength | Reuters 6 Min Read WASHINGTON (Reuters) - U.S. employers hired the most workers in 10 months in December while boosting wages, pointing to sustained strength in the economy that could ease fears of a sharp slowdown in growth. The upbeat employment report from the Labor Department on Friday stood in stark contrast with reports this week showing Chinese factory activity contracting for the first time in 19 months in December and weak manufacturing across much of Europe. Concerns about the U.S. economy rose following surveys showing sharp declines in consumer confidence and manufacturing activity last month, which roiled financial markets. Both were seen as more red flags that the economic expansion, now in its ninth year and the second longest on record, is losing steam. “The jump in payrolls in December would seem to make a mockery of market fears of an impending recession,” said Paul Ashworth, chief economist at Capital Eco
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