Free Markets, Free People

Economic Statistics for 8 Jan 15

The Labor Department reports that 292,000 net new jobs were created in December, while the unemployment rate held steady at 5.0%. 277,000 people re-entered the labor force, sending the labor force participation rate up 0.1% to 62.6%. Average hourly earnings were unchanged, as was the average workweek, at 34.5 hours.

Wholesale inventories fell a sharp -0.3% in November, but an even steeper -1.0% drop in sales sent the stock-to-sales ratio up to 1.32, compared to 1.23 a year ago.

Consumer credit rose by $14.0 billion in November, helped by a $5.7 billion increase in revolving credit.

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