Nonfarm payroll employment edged down (-85,000) in December, and the unemployment rate was unchanged at 10.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs.
Household Survey Data
In December, both the number of unemployed persons, at 15.3 million, and the unemployment rate, at 10.0 percent, were unchanged. At the start of the recession in December 2007, the number of unemployed persons was 7.7 million, and the unemployment rate was 5.0 percent.
The U-6 indicator rose to 17.3% (unemployed + discourages + partime wanting full time work) from 17.2%. Not everything was bad however. The November data were adjusted up by 15000 jobs, the number of workers with temporary jobs increased again, the hourly wage rate increased, the average hours/week stayed the same and productivity increased but these stats are too 'deep in the weeds' for the Obama Administration to spin very far.
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