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Weekly economic review & outlook
Job gains set up further growth in 2020

JAN. 13, 2020

You Need to Know

Week in review

Payroll gains softer in December

The economy added 145,000 jobs to wrap up another solid year for hiring while the unemployment rate remained at a 50-year low of 3.5 percent.

Markets up as Iran tensions ease

The S&P 500 index rose again to record highs while crude oil prices retreated from a short-term spike as U.S.-Iran concerns declined.

Week Ahead

Forecasts

Inflation likely to rise again

The CPI is expected to rise by 0.3 percent in December, bringing the 12-month trend rate up to its highest point in over a year.

Retail sales expected to rise after sluggish November

Retail sales growth was unexpectedly slow in November which should lead to a rebound in December, helped by a strong holiday shopping season.

Nonfarm payrolls added 145,000 jobs for December, modestly below consensus expectations. Even after slight downward revisions to prior months, the economy gained more than 550,000 jobs during the fourth quarter. This suggests that while job gains are easing a bit, as would be expected for an economic expansion in its 11th year, demand from employers for labor remains robust.

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