Jobs report could ease U.S. recession fears. Or not.

In this Wednesday, Jan. 27, 2016, photo, Angelo Falcone, left, is interviewed by Eric Larkee for a bartender job at a job fair held by The Genuine Hospitality Group, in Miami. The restaurant group is expanding in South Florida and is hiring for all positions at its restaurants. On Friday, Feb. 5, the U.S. government issues the January jobs report. (AP Photo/Lynne Sladky) In this Wednesday, Jan. 27, 2016, photo, Angelo Falcone, left, is interviewed by Eric Larkee for a bartender job at a job fair held by The Genuine Hospitality Group, in Miami. The restaurant group is expanding in South Florida and is hiring for all positions at its restaurants. On Friday, Feb. 5, the U.S. government issues the January jobs report. (AP Photo/Lynne Sladky)

By Associated Press February 5, 2016 6 min read

WASHINGTON (AP) – U.S. manufacturing is shrinking, corporate profits are declining and goods are piling up on warehouse shelves. Those trends have elevated concern that a U.S. recession may loom in the next year or two.

Yet in the one area that matters most, the economy has continued to shine: Hiring.

Over the final three months of 2015, employers added jobs at a robust monthly average of 284,000, and the unemployment rate has remained a low 5 percent. Such a trend typically reflects an economy in prime health, not one nearing a recession.

Another solid report Friday from the government on job growth during January could help assuage concerns about a recession possibly nearing. Analysts have forecast that employers added 200,000 jobs.

Yet if the job gain falls far short of that projection, worries about a recession might begin to intensify.