LABOR PARTICIPATION RATE REMAINS NEAR 30-YEAR LOW
The American economy added 155,000 jobs in December – roughly the same number it added in November. Unfortunately the nation’s labor participation rate remained stuck at 63.6 percent – just 0.1 percent above a three-decade low (recorded in August). By contrast, the labor participation rate stood at 65.7 percent when Obama took office in January 2009.
Factoring in these new jobs, the nation’s unemployment rate remained unchanged at 7.8 percent. Meanwhile the underemployment rate – a broader, more accurate measure of joblessness -remained unchanged at 14.4 percent. Why didn’t these rates drop? Because the economy needs to create at least 130,000 jobs a month just to keep up with the growth in population.
In South Carolina the unemployment rate is currently 8.3 percent, while the underemployment rate is 16.3 percent.
Last month’s job growth was good – but not great, which is why it failed to inspire much in the way of confidence on Wall Street. Also we suspect a dismal 2012 holiday shopping season combined with the recently approved New Year’s Day tax hikes should put a damper on hiring in the months to come.
JANUARY 2013 EMPLOYMENT SITUATION REPORT (.pdf)
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7 comments
I thought what with Obama’s MAJOR Jobs announcement…we might see a decline…
Ooops…nevermind…He’s in Hawaii…
but instead you friggin idiot the stock market rises, housing starts are up and everyone except total losers..well those like you T..everyone else is doing better and better..but once a loser always a loser so no improvement for you..loser. hey but you always have political predictions to fall back on..oh wait a sec..forgot you are a total loser in that category as well..well i guess you still are the biggest asshole in south Carolina..you got that goin for ya..loser.
I can’t wait for the mo fo lo info voters to find their paychecks reduced due to Obama’s 50% tax increase…on them!
YES WE CAN!
and another fact free post from James the wanna be soldier…bravo James..bravo.
It’s actually a 47% increase in the Social INsecurity portion of the payroll withholding taxes but too many facts and precision tend to make yo mo fo lo info voter heads explode.
YES WE CAN!!!
whats the matter James?? why do you have to insult everyone ala your idol the biggest asshole T?..did your Romney doll get a hole in it? he wouldn’t let you pet his dressage horse?
2012 retail was off? Oh I see, don’t take the report from the national retailers association. Take some report from odd service that fits the agenda.
And guess the people I saw in stores at the register were not actually spending money.
And oh, the jobs report? It wasn’t better! It wasn’t better!! is your message…..so It wasn’t worse!!!! back at ya.