How does unemployment drop 0.4% with only 103,000 job created?
103K new jobs in Dec. point to slow, steady growth
The nation’s economy added 103,000 jobs in December and the unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months.
But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was partly because people stopped looking for work.
Private employers added a net total of 113,000 jobs last month and the government shed 10,000 jobs, the Labor Department said Friday.
First we need to create 100,000 job every month just to keep up with the new workers entering the work force so based on this data they created 3,000 jobs – so that begs the question how in the hell did the unemployment rate drop to 9.4%? That’s a 0.4% drop…
The unemployment rate fell by 0.4 percentage point to 9.4 percent in December, and nonfarm payroll employment increased by 103,000, the U.S. Bureau of Labor Statistics reported today. Employment rose in leisure and hospitality and in health care but was little changed in other major industries.
The number of unemployed persons decreased by 556,000 to 14.5 million in December, and the unemployment rate dropped to 9.4 percent. Over the year, these measures were down from 15.2 million and 9.9 percent, respectively.
The math doesn’t work (when does liberal math ever work?) – but just like every month they’ll revise it upward when you’re not looking all while trying to convince you every thing is getting better.
If you ask me a lot of people have just stopped looking and given up on it and they are no longer counted.
The nation’s unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches.
The Labor Department says employers added 103,000 jobs in December, an improvement from November’s revised total of 71,000 but far below most analysts’ expectations.
Once unemployed workers stop looking for work, the government no longer counts them as unemployed.
Unemployment drops to 9.4%, but only 103K jobs added