US Adds Disappointing 74,000 Jobs in December

Unemployment rate dropped to 6.7 percent due to fewer people looking for work

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The U.S. economy added a meager 74,000 jobs in December, according to government data released Friday. The total, far below what analysts had predicted, was the lowest monthly job gain in three years.

Friday’s disappointing jobs report from the Bureau of Labor Statistics comes after several consecutive months of robust growth. Analysts had expected December to cap off the best year since 2005, with employment gains for the month closer to the Wall Street consensus of 197,000 jobs added.

The unemployment rate in December ticked down to 6.7 percent, a drop analysts attribute to fewer people seeking work.

What little hiring happened in December came mostly from the small business sector of the economy. According to NBC, the National Federation of Independent Business reports that small businesses increased their workforces by an average of 0.24 workers per company, making December the best month for that metric since February 2006.

8 comments
BobbyPynes
BobbyPynes

It has to get better eventually, right? 


Bobby Pynes

Lady_Unemployed
Lady_Unemployed

I have to wonder if this sudden "drop" is because of people no longer receiving unemployment and no longer filing claims. Just because they aren't reporting in, doesn't mean people have stopped.

Handthumb
Handthumb

Small business' provide jobs, not big business. Go to Walmart at any given time and you will see what, two or three registers open? Support the small business' people. You may pay a little more money but it will be beneficial in the long run. 

PhillyCannabis
PhillyCannabis

Look at these cattle trying to find work. STOP WORKNG! enjoy life. It's too short.

houtx1970
houtx1970

I am looking for work, but my felony conviction (for possession of a controlled substance -- which happened in 2003) to this day continues to prevent me from finding a decent job.


There are a lot of unemployed felons who want to make an honest living, but now that background checks have become so easy and cheap, almost every potential employer now screens their applicants.  Even for low-level jobs like general labor, office assistants, and phone bank workers (these I know based on my own experience). 


This drives some felons back into underground criminal activity in order to generate some income, since they feel no one will give them the chance to make an honest living.  Yes there are some jobs that will pay minimum wage for people with felonies, but let's be honest, can a person really live on minimum wage without any other form of support?   Because in Texas where I live, felons also are ineligible for food stamps.


I have been trying since May of last year to find a job that will pay enough to let me rent a room somewhere and have enough money for groceries.  I don't ask for much.  But the only jobs I can find are those that pay starvation wages, because they know I can't do any better as a result of my background.


The sad thing is, I had a successful career in telecommunications and PC repair and maintenance before my felony conviction.  I take responsibility for it.  But I think at some point enough is enough and that conviction should drop off my record.  I paid my debt to society; I cleaned up my act; but I'm still paying the price for it.

MC
MC

@houtx1970 Move to Colorado, become an herb farmer.