US jobs market is chugging along despite global economic concerns

US Jobs

US employers are continuing to hire even as global economic uncertainty dominates headlines.

A Reuters survey of economists predicts that nonfarm payrolls increased by 200,000 jobs in December, only slightly down from 211,000 jobs created in November.

The survey also found that unemployment rates are expected to remain at 5% or a 7-1/2-year low.

A strong jobs report could alleviate concerns that the economic glut is widespread. If jobs are still being maintained at high levels, it could show that economic concerns are mostly isolates to the manufacturing and export-oriented sectors, which have been hit hurt by a strong dollar and anemic global demand.

Economists this week slashed their fourth-quarter growth estimates by as much a full percentage point to as low as a 0.4 percent annual rate. The economy grew at a 2% rate in the third quarter of last year.

The Labor Department’s closely monitored jobs report, which will be released on Friday at 8:30 a.m.

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We’ll be reporting on job numbers once they are made available.

Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies.