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US December Jobs Report: Just Awful

Published 01/10/2014, 08:38 AM
Updated 01/10/2014, 09:50 AM
US December Jobs Report: Just Awful

By Greg Morcroft - The U.S. economy added just 74,000 jobs in December, compared to a consensus estimate of 197,000, according to the U.S. Labor Department. It was the lowest number of monthly jobs added since early 2011.

The unemployment rate fell to 6.7 percent, as more folks without jobs stopped looking for one. That unemployment rate is the lowest since 2008.

What's more, although November's job total was increased to 241,000 from an initial 203,000 estimate, and October's report was unchanged at 200,000 -- for a net two-month gain of 38,000 -- that's not enough to take the sting out of December's very poor statistic.  

 

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