Today's unemployment report by the Bureau of Labor Statistics:
WSJ writes:
9:59 am
Jan 10, 2014 EMPLOYMENT
Big Drop in Unemployment Rate Is Not Good News
The U.S. unemployment rate dropped a whopping 0.3 percentage point to 6.7% in December but a broader measure of unemployment was unchanged at 13.1% as hundreds of thousands left the labor force.
There was a small bit of good news in the report. The number of people employed jumped by a huge 143,000, meaning that more people got jobs last month. The problem is that the number is dwarfed by the 347,000 who dropped out of the labor force.
Part of that is payback for a big jump in the labor force in November, but a big increase in the number of discouraged workers suggest that many people gave up looking for work last month. There were 917,000 people considered discouraged, meaning they aren’t actively looking for work but want a job, up from 762,000 in November.
Read more from WSJ >>
| THE EMPLOYMENT SITUATION -- DECEMBER 2013 The unemployment rate declined from 7.0 percent to 6.7 percent in December, while total nonfarm payroll employment edged up (+74,000), the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade and wholesale trade but was down in information. |
WSJ writes:
9:59 am
Jan 10, 2014 EMPLOYMENT
Big Drop in Unemployment Rate Is Not Good News
The U.S. unemployment rate dropped a whopping 0.3 percentage point to 6.7% in December but a broader measure of unemployment was unchanged at 13.1% as hundreds of thousands left the labor force.
There was a small bit of good news in the report. The number of people employed jumped by a huge 143,000, meaning that more people got jobs last month. The problem is that the number is dwarfed by the 347,000 who dropped out of the labor force.
Part of that is payback for a big jump in the labor force in November, but a big increase in the number of discouraged workers suggest that many people gave up looking for work last month. There were 917,000 people considered discouraged, meaning they aren’t actively looking for work but want a job, up from 762,000 in November.
Read more from WSJ >>
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