Unemployment Decreases By 0.4 Percentage Points In December
Written by Ken Gaebler
The good news is that the unemployment rate fell in December. The bad news is that the number of jobs added to the economy continues to struggle.
As business owners prepare for the new year, a round of small business news and surveys have been released reflecting on the past month and helping owners prepare for the year to come.
Most recently, the United States Bureau of Labor Statistics reported that the unemployment rate fell to 9.4 percent in December from 9.8 percent the previous month, representing an increase of 103,000 jobs.
However, while the drop is good news for industries, businesses and job seekers across the nation, the number of jobs added remains lower than expected. According to Forbes columnist Stephen Pope, analysts expected a median increase of 150,000 jobs.
But there are still indicators of future recovery. "If one tots up the complete picture of job creation in the year just gone we see that 1.1 million is the figure. This is the most since 2006. The jobless rate in 2010 averaged 9.6 percent, the highest since 1983 and a marked increase from the 9.3 percent recorded for 2009," Pope writes.
Employment rose the most in the leisure and hospitality and healthcare sectors yet remained static in most other major industries.
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