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SUMMARY:
-- There were 155,000 jobs added in December. Unemployment rate is marginally worse at 7.8%.
-- The numbers are solid but not great, and shows that economy is making progress.
-- Purchasing power of US consumers now up 4.1% year over year, so that is great news.
-- However, a lot more progress needs to be made.
-- The unemployment number is very important in the sense that the Fed has pegged its policy to the unemployment report.
-- It will be interesting in the next few months to see how the Fed reacts to this number in terms of policy, because right now there is a lot of confusion related to the Fed's policy.
Credit and Source: Bloomberg
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I wrote more about this topic recently, my article can be found here: _[lofalexandria.blogspot.com]