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after having staffed up in November for the holiday shopping season. Overall, American businesses have been largely shrugging off economic weakness overseas and continuing to hire at solid rates. economy's steady improvement is especially striking compared with the weakness in much of the world. level. Japan, the world's third largest economy, is in recession. Russia's economy is cratering as oil prices plummet. China is straining to manage a slowdown.
62 in Novembe.
e unemployment rate is now near the 5. 2 per cent to 5. 5 per cent range that the Federal Reserve considers consistent with a healthy economy one reason the Fed has been expected to raise interest rates from record lows by midyear. Yet for now, the plummeting oil prices and weak pay growth are helping keep inflation even lower than the Fed's 2 per cent target rate. Many economists think inflation may fail to reach even 1 per cent this year. A result is that the Fed could feel pressure to avoid raising rates anytime soon. "There is still room for stimulus without having to worry about inflation taking off," said Michael Strain, an economist at the American Enterprise Institute. economy will expand more than 3 per cent this year. If it does, 2015 would mark the first time in a decade that growth Adidas Stan Smith Chalk White Copper
has reached that level for a calendar year. In December, hiring was widespread across most industries.
Brazil and others in Latin America are struggling. Fears about significantly cheaper oil spooked investors earlier this week before financial markets recovered. consumers and many businesses. Adidas Stan Smith Shoes Online
Construction firms added 48,000 jobs, the most since January. Manufacturers gained 17,000, restaurants and bars 44,000. One industry where hiring slowed in December was retailing, which cut back Adidas Stan Smith Baby Pink
Though 2014 job growth was the best since 1999, other measures were less encouraging. Average Stan Smith Kermit hourly pay rose just 1. 7 per cent last year, less than half the 3. 6 per cent gain in 1999, a pace more typical of a strong economy. Hourly wages fell to $24. 57 in December from $24.
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