199,000 jobs added in December, much below expectations

Jan 10, 2022
589 views
0 comments
Share
Whistleblowing

According to the Labor Department's December job report, the US economy added only 199,000 jobs. But the economy also sends mixed signals as it pushed the unemployment rate down to a new pandemic low. It was the second month where the job growth was well lower than the predictions made by economists. There was a forecast of 400,000 jobs for this month. Meanwhile, the unemployment rate fell from 4.2% in November to 3.9% in December.

The October and November job reports, with 546,000 and 210,000 jobs added, were revised upward by a combined 141,000 jobs. Many economists say that the report was stronger than the top-line jobs figure. But there are many forces unleashed by the pandemic like inflation, labor shortages and supply chain delays which continue to weigh on the labor market. These factors also make it hard to predict what will happen next.

Odeta Kushi, an economist at First American Financial Corporation says, "The headline number was disappointing, but it is good to see the unemployment rate tick down to a pandemic low." Augustine Faucher, chief economist at PNC Financial Services Group said that the report was similar to the November jobs report and that it was encouraging overall. “We have a weak headline number, but the details were much better. The job market was still good at the end of 2021", he adds.

Source: The Washington Post

589 views
0 comments

Tags In

Apple India Workplace Diversity

Previous days news

Jan 9 Jan 6 Jan 5 Jan 4 Jan 3

Best tech jobs in the United States : BLS data

Sep 06, 2022
1396 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
853 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
1432 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
840 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
1438 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

199,000 jobs added in December, much below expectations

199,000 jobs added in December, much below expectations

Tags In

Others news

Category

Tags

Articles