January 9, 2016
IN SPITE?:
Robust Hiring in December Caps Solid Year for U.S. Jobs (PATRICIA COHEN, JAN. 8, 2016, NY Times)
The last time the American economy registered such a prolonged stretch of impressive job creation, Facebook didn't exist and Beyoncé was still a member of Destiny's Child.For all of 2015, the nation added 2.65 million jobs, capping a two-year, back-to-back gain that was the best since the late 1990s, the government reported on Friday."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."
Of course, the Asian markets are hardly crazy, which is one of the key fundamentals for our economy : their plummeting fundamentals contribute to our deflation in the price of goods, cheap borrowing and higher stock prices.
Posted by Orrin Judd at January 9, 2016 9:50 AM