200,000 Non-Farm Jobs Added, Unemployment Shrinks to 8.5%

January 6, 2012 01:44 AM

This morning's employment report from the Department of Labor showed hiring picked up in December and unemployment declined. Employers added 200,000 jobs in December, above investors' expectations of around 150,000 non-farm payrolls being added. The unemployment rate declined to 8.5%, from 8.6% the previous month.

Job gains occurred in transportation and warehousing, retail trade, manufacturing, health care, and mining.

Juli says: The report provides some good news about the U.S. economy and resulted in an immediate spike in the U.S. dollar index. Strength in the U.S. dollar index could weigh on commodity markets this morning as traders worry export demand will soften. However, crude oil and gold futures are reacting positively to the jobs report.

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