The Labor Department reports The economy added 148,000 jobs in December. That’s down from an average gain of 232,000 in October and November, and economists expected 198,000 non-farm jobs. The unemployment rate stayed steady at 4.1%. Wages increased 2.5% annually, up slightly from the 2.4% annual rate in November.
The Commerce Department reports factory orders rose 1.3% in November for the fourth straight increase, reflecting strong demand for manufactured goods. That wasbetter than the 1.1% expected by economists. October was revised to a 0.4% gain instead of a 0.1% decline. Business investment softened in November after a series of strong gains. The dropoff might be temporary, though. The recently enacted tax cuts will make it cheaper for businesses to invest starting in 2018.
The Stoxx Europe 600 index rose 0.7% to 396.12, on track for its highest close since November 6. For the week, it’s set for a 1.6% gain, its biggest since July 2016.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
