Economics
Standout Job Report Shows U.S. Economy Stronger Than Thought
- Payrolls, wage gains top estimates for December figures
- Investors have been fretting about trade war, other risks
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The U.S. job market delivered a blowout performance in December, giving a clearer signal that the economy is on solid footing even as investors fret about the trade war and other risks in 2019.
U.S. stocks and Treasury yields surged Friday after Labor Department figures showed employers added the most workers in 10 months, wage gains accelerated and labor-force participation jumped. Contrast that with the drumbeat of bad news in recent days, highlighted by the plunge in a closely-watched gauge of manufacturing and several big companies warning of slower revenue.