Here’s what analysts are saying about the December jobs report, which showed 292,000 jobs created in the month, well above economists’ expectations. The unemployment rate stayed at 5%.

Read more about the December jobs data.

• “The strength of the job gains should keep the Fed on track for one more hike in interest rates in March should financial market volatility subside, but signs of inflation picking up will likely be needed to convince more dovish members to support further hikes beyond that. Elsewhere in the report the unemployment rate was unchanged at 5.0%, and the wider U6 measure was also unchanged at 9.9%.” — Andrew Grantham CIBC Economics.

• “Today’s job numbers should be soothing to the FOMC, to markets, and to workers, and stand in sharp contrast to the negative economic news emanating from China. For the FOMC, the unexpected 292,000 jobs added in December, and the upward revisions to October and November, will bolster their case for four rate hikes this year. Markets are desperate for good news, and now have it, but it comes with a caveat because better employment growth means the Fed will raise rates faster. While workers saw no wage growth from November to December, year-over-year wage growth of 2.5% is strong and when combined with the job creation leaves one conclusion: People are finding jobs and getting paid more for them.” — Beth Ann Bovino, U.S. chief economist at Standard & Poor’s Ratings Services.

• “As the labor markets get tighter, the downward trend in the unemployment rate is naturally becoming more moderate. The labor force participation rate increased for the third month in a row. Is this turning point for real this time? We remain cautious as this measure is quite noisy. Still, with such a strong momentum in employment growth, the unemployment rate is likely to continue dropping in 2016.” — Gad Levanon, managing director, economic outlook & labor markets, the Conference Board