Friday, January 8, 2010

85,000 jobs lost in Dec., but Nov. revision shows jobs growth


Any good news is really good news.

WASHINGTON (AP) — The U.S. economy lost more jobs in December and the unemployment rate was unchanged, as a sluggish economic recovery has yet to revive hiring among the country's employers.

The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected.

(snip)

Revisions to the previous two months' data showed the economy actually generated 4,000 jobs in November, the first gain in nearly two years, while it lost 16,000 more than previously estimated in October. The net result for the two months was a job loss of 1,000

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