Weekly Market Commentary 12/04/2015
For most of the past month, the prevailing mantra in the financial markets was that only a truly disastrous jobs report for November would dissuade the Federal Reserve from raising short-term rates in mid-December. Well, the report was released on Friday morning, and the outcome was anything but disastrous. Not only did the economy generate somewhat more jobs than expected — 211,000 — the original estimates for September and October were revised up by 35,000, with the October gain boosted to nearly 300,000. That puts the average gain for the latest three-month period at 218,000 per month compared to a six-month average of 213,000 and a 12-month average of 220,000. Simply put, while there have been some disruptive ups and downs along the way, the pattern of job growth over the past three years has been a model of consistency, hovering just north of 200,000 a month.
- DATE: December 4, 2015
- TYPE: PDF
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