It's been confirmed, 2014 exhibited the strongest job growth in the last 15 years.
The December nonfarm payrolls report, released today by the Bureau of Labor Statistics, holds clues to the state of our economy as well as the timing of rate increases. To begin with, the headline figure showed 252,000 jobs were created in December, a very strong number, and the two prior month's figures were revised upward by 50,000 jobs each. (For a review on how this report is manipulated based on seasonality, and why we've recently been expecting strong reports with upward revisions, click here). The official unemployment rate fell to 5.6%.
The chart below looks at average monthly employment growth by year. Towards the right of the chart you can see that hiring remains in a sustained uptrend. This differs from the years leading up to the last two major market peaks, in which we saw the pace of ... Log in or subscribe to continue reading.