Actual Unemployment Rate Reaches 17.3 Percent As Economy Sheds Another 85,000 Jobs

Economy Loses 85,000 Jobs In December, Jobless Rate Stays At 10 Percent – Fox News

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.

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2 thoughts on “Actual Unemployment Rate Reaches 17.3 Percent As Economy Sheds Another 85,000 Jobs”

  1. Consumers are scared and not about to start spending at this time – non of the indicators suggest that the recession is over. Too many ridiculous polls and false figures.

    The healthcare reform bill is one major holdup for Americans; we know that we’re going to take the hit when it comes to paying for this bill. Why the administration refuses to downsize the government, get rid of all earmarks and put a freeze on spending is the real question.
    Our Nation is tottering on a weak foundation and the Republicans and Democrats continue to play politics. We need a few good men and women who will stand up for America. America does have a voice in the coming elections and needs to remove the garbage in Washington D.C..

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