Friday, January 07, 2011

Yes, Obama Winter continues: Unemployment rate falls to 9.4 percent

The December numbers are in, the nationwide unemployment rate fell to 9.4 percent from 9.8 percent. It's now at the lowest level in 19 months. But let's remember, when the Democrats were selling the their stimulus package two years ago, they said it would not exceed 8 percent.

The economy added 103,000 jobs last month, but forecasters had predicted 150,000 new jobs for December.

The drop in the rate appears to be related to some workers giving up looking for work.

Meanwhile, Federal Reserve Chairman Ben Bernanke says it will take the job market four to five years to recover from the recession.

Obama Winter continues.

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1 comment:

Crazy Politico said...

The drop in unemployment can only logically be attributed to people stopping their job search.

We need to create between 180-220,000 new jobs per month for that to cause decrease in the rate.
(wide variance based on who you listen to).

The "drop" is actually a bad thing when 103,000 jobs are created, it means probably another 100,000 quit looking.

11:01 AM

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