December Job Losses Worse Than Expected, Except For Healthcare, Which Obama Wants To Gut
One thing the reports in the MSM is ignoring is the “Underemployed” rate. This is everyone who doesn’t have a job or only has a part time job, but wants a full time one, including that arbitrary “discouraged jobseeker” which is removed from the main number.
The “underemployed” rate went up from 17.2 to 17.3, which is 0.1 away from its highest level.
I am sure we will see a “adjustment” later in the month, on a Friday night.
The economy shed far more jobs in December than economists had expected.
The Labor Department announced moments ago that nonfarm payrolls declined by a surprising 85,000 workers last month. Economists had been expecting no change or maybe a small decline.
One bright spot was healthcare which added another 22,000 jobs. Despite efforts by Democrats to "reform" this industry, it remains one of the few that continues to hire having added a staggering 631,000 employees since the recession began in December 2007.