Posted on 01/10/2020 6:21:35 AM PST by Red Badger
The U.S. economy added 145,000 jobs in December, while the unemployment rate remained at 3.5%, according to Department of Labor data released Friday.
145,000 jobs were added in December, according to the Bureau of Labor Statistics report — about 121,000 fewer jobs than were added in November.
December’s unemployment rate remained steady at 3.5%, matching September’s unemployment rate, the lowest since December 1969.
Economists had predicted that 164,000 jobs would be added and that the unemployment rate would remain at 3.5%, according to CNN, about 100,000 jobs fewer than the previous month when a General Motors strike ended and boosted job numbers.
Job growth has come back strong after February, when just 33,000 jobs were added.
The unemployment rate has held steady between 4% and 3.7% for more than a year before the April jobs report showed it drop to 3.6%. Prior to April’s report, the consistent unemployment rate suggested that workers are jumping back into the workforce to fill open jobs, rather than the workers who are currently collecting unemployment welfare, according to The Wall Street Journal.
Unexpected, I’m guessing.
Don’t worry, democrats have a plan to fix it
Unexpected in that it was 20k lower than the forecast. That’s not the sort of “unexpected” we want.
It’s hard to add jobs when unemployment is at 3.5%. There are not many people who are willing to take a job and are not already working.
It pick up after the start of the new year.
CNBC trying to spin like crazy. Reality is anything between 75-100,000 jobs is sufficient to keep up with population growth.
Average over last 3 most is 179,000 which more than sufficient.
My guess is the so called experts pick the numbers out of thin air since they never tell why they chose the number they support.
At this point in December, 1984, Unemployment was 8 percent!
Numbers to be revised in favor of the economy as soon as they wring out any bad spin they can dream up. The deep state needs extracted like a rotten tooth.
1983.
There are 7 million more jobs available than people to take them
Sorry,there are about 1.7 million more jobs available than workers to take them, not 7 million.
I bet the number gets revised up.
2.1 million net new jobs during 2019, on top of 2.7 million net new jobs during 2018, and 2.1 million net new jobs during 2017.
total (so far) 6.9 million net new jobs
Deport 12 million of the illegals and there will be another 2 million jobs available (plus a whole lot more money for social services for real Americans who are in need).
A good example of this situation...Huntsville, Ala....2.1-percent unemployment. The mayor is discussing the eight or nine factory operations or plants coming on line this year (concrete is drying)....4,000 new jobs by January of 2021. There simply isn’t anymore potential folks within 20 miles of the city. Other regions (40-50 miles away) are likely going to see the advertisements.
Mayor is already talking of 2021 to 2025....maybe 20,000 jobs coming to the region. They will have to recruit outside of the state and attract folks to move in.
We already have more jobs available that applicants to fill them. Unemployment is at 3.5% and the U6 is at 6.7%. We’re essentially at full employment.
At some point the job gains slow down because there’s no one left out there looking for work.
That’s usually when you see wages really start to rise, but so far they’re rather muted.
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