Friday, January 4, 2013

December jobs report is in

The December jobs report is in and, well, the economy is still rather weak.



Ben Casselman at the Wall Street Journal (see here) summarizes:

The monthly jobs figures, which have substantial margins of error and are often subject to big revisions, are famously volatile. But lately the numbers have shown remarkable consistency. December was the sixth consecutive month of payroll gains between 100,000 and 200,000. December’s one-month addition of 155,000 jobs was close to the three-month average (151,000 jobs), the six-month average (160,000 jobs) and the 12-month average (153,000 jobs). A pace of around 150,000 jobs a month hardly represents robust growth, but it’s been enough to drive a relatively steady decline in the unemployment rate.

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