Some thoughts on today's 312,000 jobs added to the economy

The numbers

Now, about the jobs numbers, here are the headline numbers:

  • An increase of 312,000 in December in non-farm payrolls based on the business survey. That is well in excess of the consensus estimate for 178,000.

  • Revisions of +58,000 to October and November payroll data, bringing the net up to +370,0000 for this month's business survey

  • An unemploymen…

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