Fed Apology, Strong Job Growth Bolster Stocks

The economy created 304,000 jobs in December, the Labor Department reported on Friday, much more than the 172,000 expected. It was the second consecutive month of much stronger than expected growth in net new jobs. The unemployment rate rose to 4% but remained in a low range last seen in 2000. While economic fears have been heightened recently, this strong jobs data is not the kind of conditions that have preceded recessions.