Quick Overview

• The unemployment rate fell to 4.9 percent from 5 percent and labor costs rose, the Labor Department said. The December gain followed figures showing 71,000 more jobs than first reported for November and October. For all of 2005, the U.S. gained roughly two million jobs
  

• Bloomberg reported that U.S. consumption of gasoline, heating oil, and other fuels hit a new record high in December. While projections differ, market watchers on average expect oil prices to consolidate around $55 to $60 a barrel this year.
  

• Japan's consumer prices will likely start showing a lasting rise and the economy is making steady progress toward ending deflation thanks to a balanced recovery, the Bank of Japan's chief economist said on Friday.
  
  

• Canada's unemployment rate rose from 6.4% to 6.5% in December. In 2005, Canada gained 233,000 jobs.
  

• The unemployment rate in the Euro zone was unchanged at 8.3% in November. Unemployment in the EU-25 was also unchanged at 8.5%.
  

• YoY Industrial production in Germany was up 4.7%.