Econ Edge: The Economic Week

      December Jobs Report (8:30 a.m. ET) [expected: 175,000 new jobs and 5.4 percent unemployment / prior: 112,00 new jobs and 5.4 percent unemployment] The Labor Department said U.S. employers added 157,000 new jobs overall in December. The nation's unemployment rate held steady at 5.4 percent. Despite the fact that December came in below Wall Street economists' forecasts for 175,000 new jobs, it followed upwardly revised totals of 137,000 jobs in November and 312,000 in October. Previously, the government said 112,000 jobs were created in November and 303,000 in October.

      November Consumer Credit (3 p.m. ET) [expected: +$5.8 billion / prior: +$7.7 billion] Consumer credit dropped by $8.7 billion in November from the previous month, marking the largest over-the-month decrease since the Fed began keeping records in 1943. The cutback represented a 5 percent decline at a seasonally adjusted annual rate.

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