FINANCIAL TIMES: …The US economy created 321,000 new jobs in November — well ahead of analyst expectations of 230,000. Treasury yields jumped as investors priced in the now palpable prospect of US Federal Reserve interest rate rises during the first half of 2015.
The report — coming on the same day the Bundesbank halved its forecast for German growth next year to just 1 per cent — shows the divergence in economic prospects between the US and the eurozone. But it suggests US consumers could once again help to drag the global economy through a soft patch…
Crucially for the Fed, there was a jump in wages and hours worked: if that is confirmed by other data, it will mark the moment when the US labour market shifted out of recovery mode and returned to a normal state of health… (more)
