85,000 jobs lost last month

Discussion in 'Economy' started by uscitizen, Jan 8, 2010.

  1. uscitizen
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    uscitizen Senior Member

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    By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, Ap Economics Writer – 2 mins ago
    WASHINGTON – The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation's employers.

    The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected.

    A sharp drop in the labor force, a sign more of the jobless are giving up on their search for work, kept the unemployment rate at the same rate as in November. Once people stop looking for jobs, they are no longer counted among the unemployed.

    When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called "underemployment" rate in December rose to 17.3 percent, from 17.2 percent in October. That's just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.


    Economy loses 85K jobs, unemployment rate steady - Yahoo! News
     
  2. California Girl
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    California Girl BANNED

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    Thank God that recession thing is over!!

    *Ponders whether we have any politicians left who are prepared to do the hard stuff in order to fix the shit that these people have left us in.*
     
  3. uscitizen
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    uscitizen Senior Member

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    I doubt it and the people would revolt if they did anyway.
     
  4. The Rabbi
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    The Rabbi Diamond Member

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    I was listening to NPR yesterday and they were all bright talk about how the figures would really show the economy was out of recession etc etc. I thought, uh uh.
    So instead of 8k lost, there were 85k lost, a miscalculation of 10 times. This is about the same margin of error as stimulus predictions and every other policy prediction from the Obama White House.
    Why is anyone still believing these clowns??
     
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  5. uscitizen
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    uscitizen Senior Member

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    The false rosy picture of the economy started several years ago and still continues.
     
  6. mascale
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    mascale VIP Member

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    The payrolls report showed the anticipated revision of the November job losses to a gain of 4,000. So then the average monthly job losses of Q1 at 694,000 per month, versus Q4 to 69,000 per month: Can be counted as a fairly healthy green shoot.

    In Castroville, CA. it might even count as a pretty hefty artichoke. And as for famous Napa-Sonoma-Mendocino California counties: There is easily said greenery in the vines. And then there is infamous Napa-Sonoma-Mendocino California counites: Potentially waking up to it all.

    Soon there will be February 5, 2009, revisions again.

    "Crow, James Crow: Shaken, Not Stirred!"
    (Sedona, AZ, need famous and infamous stuff, too: In Abundance! Need Help! Count Many Teepees . . .and new medicine lodges, like on coast!)
     
    Last edited: Jan 8, 2010
  7. SwingVoter
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    final job report of the 00s - end decade with fewer private sector jobs than we had when it started
     
  8. uscitizen
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    uscitizen Senior Member

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    Productivity gains.
    ;)
     
  9. xsited1
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    xsited1 Agent P

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    What I would like to see is a headline such as:

    "85,000 Government jobs lost last month."
     
  10. saveliberty
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    saveliberty Diamond Member

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    Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can't find jobs.

    The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up on their search for work. Once people stop looking for jobs, they are no longer counted among the unemployed.


    Economy loses 85K jobs, unemployment rate steady - Yahoo! News

    New strategy, get people to give up looking and we can take them off the list.
     

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