Strong December Hiring Defies Forecasts of Slowdown, Could Allow Fed to Tackle Inflation
- Strong US job growth of 216,000 in December, defying forecasts of an economic slowdown
- Government hiring drove the gains, extending a strong streak of job creation
- Raises hopes the Fed can tackle inflation without triggering a downturn
- Pay showed signs of rising with 4.1% higher hourly earnings
- Analysts say strength dampens speculation of imminent rate cuts