The U.S. unexpectedly lost 85,000 jobs in December and revisions showed payrolls increased the prior month for the first time in almost 2 years. Payrolls decreased last month after a November gain of 4,000, figures from the Labor Department showed today in Washington. The jobless rate held at 10%
The so called underemployment rate, which indicates part-time workers who would prefer a full-time position and people who want to work but have given up looking rose to 17.3% from 17.2%
Over the last 2 years the U.S. has seen 7.2 million job losses, this has been the biggest as a percentage of all jobs since World War II was ending in 1944-45.
Though most economist agree that we will see job gains in the coming months, most agree that it will be a slow increase and many predict that the unemployment rate towards the end of 2010 will still range between 9-10 percent.
Posted By Randy Ratchford. Randy can be reached toll free 877-627-9211 ext107 or by email RRatchford@HorizonFinancial.org
