Unemployment Drops, 200,000 New Jobs Added to Economy

The nation’s unemployment rate dropped to a near three-year low of 8.5 % last month

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The U.S. economy didn’t close on such a bad note in 2011.

A forceful 200,000 new jobs were added to the economy in December, the U.S. Department of Labor announced Friday.

The nation’s unemployment rate fell to 8.5 % in December, from 8.7% in November, the government said. The Labor Department revised the number of new jobs added in November to 100,000, from 120,000.

December was the sixth consecutive month that the economy added at least 100,000 new jobs, but the Japan earthquake and debt ceiling crisis of the spring and summer slowed progress significantly.

“People were very much thinking that the sky was falling,” said Tom Porcelli, an economist at RBC Capital Markets. “It’s no small victory that we’re up here, even with all these headwinds.”

Read more at the New York Times…

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  • Florian Schach

    The news about unemployment is definitely great, but now we have to be sure we can keep a trend like this going. We need to be certain that we are making it easier on companies to be able to keep jobs in the United States by focusing on what are necessities with regard to regulation. If not watched closely, we can lose the uptick that we’re on due to compliance costs or an inability to operate(http://eng.am/sTM3nH). We should be sure to be cognizant of how much we’re trying to do before we completely run over any/all economic opportunities.

  • chrystal055

    500,000 People lost their Unemployment Benifits last Year,are they counting those Figures,NO,NO!!!