December payrolls surge in boost to economic outlook

Washington

US job growth surged in December and employment for the prior two months was revised sharply higher, suggesting that a recent manufacturing-led slowdown in economic growth would be temporary.

Nonfarm payrolls increased by 292,000 last month, the Labor Department said on Friday. The unemployment rate held steady at a 7-1/2-year low of 5 per cent even as more people entered the labour force, a sign of confidence in the labour market.