… in December, the Bureau of Labor Statistics said on Friday.
That’s right a FALL of 85,000.
Now, that’s a big disappointment and well below expectations, which admittedly were all over the place.
Consensus was for a decline of 8,000 after November’s 11,000 drop, which has now been revised to a gain of 4,000
The jobless rate was 10.0 per cent.
Figures for October, meanwhile, were revised to show a fall of 127,000 from – 111,000 previously.
From the BLS:
Nonfarm payroll employment edged down (-85,000) in December, and the unemployment rate was unchanged at 10.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs.
In December, both the number of unemployed persons, at 15.3 million, and the unemployment rate, at 10.0 percent, were unchanged. At the start of the re- cession in December 2007, the number of unemployed persons was 7.7 million, and the unemployment rate was 5.0 percent.
Go here for the full release.
Related links:
I move markets, therefore I am a US NFP – FT Alphaville
Stifel Nicolaus on US payrolls – Long Room
A +316,000 NFP Print On Friday? The BLS Seasonal Fudge Factors Make It Very Likely – Zero Hedge