The Labor Department says the economy added 292,000 jobs in December. The private sector added 275,000 and government added 17,000. The unemployment rate is unchanged at 5%. 2015 job additions were the most on an annual rate since 1999.
Layoff announcements suggest a solid labor market. There were 23,622 announced job cuts in December 2015, down from November and a year ago. There has been an uptick in announced layoffs in the energy sector, with 1,682 announced job cuts in December and a total of nearly 100,000 in 2015. By comparison, there were just 14,000 announced layoffs in the energy sector in all of 2014.(LPL Research)
Constellation Brands the third-largest beer company by volume in the U.S., saw profits jump 22% in the latest quarter. In the quarter, Constellation’s net beer sales rose 8%, while sales in the wine and spirits segment climbed 3%. Shares are up 39% in the past 12 months. (Wall Street Journal)
Walgreens beat profit expectations in the latest quarter, but the nation's largest drugstore chain started 2016 cautiously by narrowing its earnings forecast range for the New Year. Walgreens had a quarterly profit of $1.11 billion on sales of $29.03 billion. The company's shares grew about 12% in 2015. (AP)