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Unemployment Stays at 10%

Employers cut 85,000 jobs in December, more than expected

By the Associated Press

Posted Jan 8, 2010 7:42 AM CST

(AP) – The economy lost more jobs in December and the unemployment rate was unchanged, signs that a sluggish economic recovery has yet to revive hiring. The Labor Department says employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected. A sharp drop in the labor force, a sign more of the jobless are giving up on their search for work, kept the unemployment rate at 10%, the same as in November.

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. "We are in for a long, hard slog in the labor market," said an economist at Nomura Securities.

A man searches through job listings in the New York State Labor Department's Division of Employment Services in Brooklyn.
A man searches through job listings in the New York State Labor Department's Division of Employment Services in Brooklyn.   (Mark Lennihan)
Job seekers in Charlotte, NC.
Job seekers in Charlotte, NC.   (Chuck Burton)
A California man looks for a job online at a jobs center in Glendale, Calif.
A California man looks for a job online at a jobs center in Glendale, Calif.   (AP Photo/Damian Dovarganes)
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COMMENTS
Showing 3 of 17 comments
tomodachi
Jan 9, 2010 12:48 PM CST
You people love to point the finger at the cause of the problems... you need to figure out where to point. I suppose you realize that the US started losing jobs in November 2007 and that trend bled red for 2 years until November 2009 where it turned slightly positive again (less than one year AFTER Obama took over). Tell me what did GWB do in 2007 to fix the problem he created? Answer: Nothing... not until late 2008 when he realized his mess would actually cause the economy to crater WHILE he was still in office.... then he did whatever he could to stop it from going into total meltdown WHILE he was in office. He pushed all of this forward and screwed the Obama administration hard and all of us even harder. During his 8 years of economic destructive policies, GWB personally signed into existence more than $6 Trillion additional dollars to OUR national debt. He signed OUR names to HIS debt. ______________________________________________________ GWB gave his last stab to the economy on his way out the door by bailing out the criminals on Wall Street... the ones who made out the most while causing the world's economy to crater from unregulated mortgage derivatives… by adding ANOTHER $700 Billion of OUR money to HIS debt to temporarily fix HIS problem. He did whatever he could to retire with his cushy pension and say “Who ME? I didn’t do THAT... It's OBAMA's FAULT. _________________________________________________________ Obama isn’t perfect… but anybody who blames him at all without cursing the republican president GWB whose horrendous economic policies (and no need for regulation) BS caused our economy to fall…anybody who doesn’t curse him is a fool. And anybody who ever votes for a republican again is an insane fool.
Snarfeh
Jan 9, 2010 1:04 AM CST
@DuhDLY - No, it just means xmas is over and all the extra jobs that resulted from it are no longer needed.
ronimaca
Jan 8, 2010 9:09 AM CST
whattha are you warming gdlyfi (interest name aka Dly?) because if the unemployment rate going down will would make Obama look good. You my have to come up with why Bush made this improvement happen.

Copyright 2012 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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