Economic news released on Friday indicated surprising strength in the job market as nonfarm payrolls grew by 167,000 in December compared to an expectation of 100,000. Job growth for October and November was also revised upward. Over the last three years, the US economy added 5.8 million net new jobs. Workers also saw a average hourly wages in December up .5% from a month ago and 4.2% over December 2005.

Waht does that mean for interest rates? It makes it less likely that the Federal Reserve will cut rates anytime soon. For the Wall Street Journal's analysis, click here.

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