In the newest Jobs Report for December, the US added 155,000 jobs while the U-3 unemployment rate stayed at 7.8%. This is not necessarily bad news, but it is clearly not the kind of job growth we need to be seeing still. Here are a few stats:
- 12.2 million unemployed (little changed)
- 7.3% – Unemployment rate for women (up)
- 14.0% – Unemployment rate for blacks (up)
- 7.2% – Unemployment rate for adult men (little changed)
- 23.5% – Unemployment rate for teenagers (little changed)
- 6.9% – Unemployment rate for whites (little changed)
- 63.6% – Civilian labor force participation rate (little changed)
The far more encompassing unemployment figure (U-6) stayed still at 14.4%. This figure not only includes people without work that are seeking full-time employment, but also marginally attached workers and those working part-time for economic reasons.
One incredibly interesting figure was noted by HotAir’s Ed Morrissey:
A couple of months ago, the Household Survey showed an anomalous increase of more than 870,000 jobs, which created a huge media stir right before the election, even though the official jobs added number comes from the Establishment Survey. Table A-1 shows this month that only 28,000 jobs got added in the Household Survey, while the number of unemployed in the survey rose by 166,000. Think the media will report on that?
So you have higher unemployment rates for women and blacks (both voted overwhelmingly for Obama), an incredible downward adjustment from the previous month, but 155,000 jobs added; I’m not sure this is really the improvement we need to see.
COMMENT below: Is this the kind of recovery you want to see, or is this just another lackluster jobs report?