2013 ends with weakest job growth in years
Employers added an awful 74,000 jobs in December. That’s the fewest in over three years. Just an awful state of affairs. Now back to transgendered children getting their own bathrooms…. and giving illegal immigrant a free pass…. You know… important stuff. And what we’ll hear from the liberals is a 6.7% unemployment rate…. uh…. that’s because the labor participation rate fell… again… again….
This is your socialist agenda at work. Sadly the “new normal”. Thanks to the democrats and the entire political class. Just when I begin to have hope… reality rears its ugly head with horrible news…
Ouch! The job market suddenly looks a lot weaker than economists’ had thought.
Hiring slumped sharply in December, as the economy added only 74,000 jobs, according to the government. This was the weakest month for job growth since January 2011 and came as a huge surprise to economists, who were expecting an addition of 193,000 jobs.
Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.