You’ve probably heard by now that the nation’s employers added 155,000 jobs in December. The New York Times says it, so it must be true.
The unemployment rate for December held at 7.8 percent, the same as in November, after the rate was adjusted up from the initial report of 7.7 percent.
“It’s not a home-run report by any stretch, but it’s constructive,” the paper quotes John Ryding, chief economist at RDQ Economics, as saying. “It’s another month of fairly stable, solid, moderate job creation.” Story does concede that at the current pace of job growth, it would take seven years to get the unemployment rate back to where it was when the recession began in December 2007.
Let’s go to the source.
Here is a portion of one of the charts from the Bureau of Labor Statistics today:
As you can see, from November to December, the population grew but the labor force shrank, the number of employed fell, the number of unemployed grew, and the unemployment rate ticked up. Just thought you’d like to know.