Economy added 167,000 jobs in December

  • What’s good: economy is holding relatively well
  • What’s bad: inflation pressure remains, so there is no reduction in mortgage rates in sight, keeping RE well above affordability
  • What will happen: stronger dollar creates good opportunities to buy international stocks

What jobs were growing?

  • Information services +12k
  • Finance and insurance +9k
  • Administrative and support services +24k
  • Services to buildings and dwellings +13k
  • Health care and social assistance +38k
  • Food services and drinking places +22k

What are the biggest losers?

  • Goods-producing -11k
  • Residential specialty trade contractors -10k
  • Retail trade -9k

So the surprise happened mostly because the good weather let us to delay the pending layoffs in construction. We shop less, but we drink more. And we are sick.