There has been speculation that the economy may slow down slightly because of supposedly weak holiday sales, but numbers released by the Labor Department today surpassed expectations.
Payrolls rose by 155,000 workers last month following a revised 161,000 advance in November that was more than initially estimated, Labor Department figures showed today in Washington. The median estimate of 82 economists surveyed by Bloomberg called for a increase of 152,000. The unemployment rate held at 7.8 percent, matching the lowest since December 2008. [...]
A separate release from the Institute for Supply Management showed its index of U.S. non-manufacturing businesses rose to 56.1 in December from 54.7 a month earlier. The median forecast of 66 economists surveyed by Bloomberg projected a decline to 54.1.
And, because of the president’s unique ability to lure Republicans into a trap, the economy will stay on a path to recovery for the time being.
The Republicans ultimately lost each of the previous times — dating all the way back to 2011 — they took the economy hostage, so I don’t expect they will be any more successful next time around. There’s no evidence that says they’re capable of accomplishing anything other than dropping an ACME anvil on their own heads.