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The nation added 155,000 nonfarm jobs in December, about the same as the 161,000 gain of November, the Labor Department said today (Jan. 4). The jobless rate stayed at 7.8%, down almost a percentage point from a year ago but still high by historical standards. This should be good news for stock market investors; the Federal Reserve has said it will continue driving interest rates down as long as unemployment stays high. In fact, the bull market that began in early 2009 has been almost entirely driven by the easy money policy of the Fed and other world central banks; economies around the world have grown meekly if at all during the period.

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