Unemployment Stays at 10%
From the US Department of Labor: “This past December, the economy lost 85,000 jobs, and the unemployment rate remained unchanged at 10 percent.”
Also mentioned in this article: “. . . many of the report’s findings could be misleading and, to get the full financial picture, you have to dig deep into the data.
For example, December’s unemployment rate appears to have stayed the same as the previous month, at 10 percent. However, Cook says when factoring in those people working part-time who would prefer full-time work and those who have become discouraged and stopped seeking jobs, the total so-called “underemployment rate” for December rose to 17.3 percent from 17.2 percent in November.”
When you factor in how many workers should have been hired during the holiday season, you can see how far our economy has to go before it truly enters recovery.
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