POLITICS

Gasping: Jobs report shows hiring crash

By |
Politics,Chris Stirewalt,Power Play

Buzz Cut:

  • * Gasping: Jobs report shows hiring crash
  • * Christie survives, but still jammed up
  • * House hits ObamaCare on hack attacks
  • * Gillespie gears up for Senate run
  • * Beer to the rescue!

 

GASPING: JOBS REPORT SHOWS HIRING CRASH - Dire December numbers just out from the Labor Department show that U.S. employers added a paltry 74,000 jobs in the final month of 2013. Not only is the number far below what economists were expecting (a minimum of 120,000 new jobs), it is nowhere near the more than 200,000 jobs the economy must add each month just to keep pace with population growth. The labor force shrank again in December, hitting  62.8 percent – the lowest since women joined the labor market in full force – as another 347,000 job-eligible adults dropped out of the labor pool. The total unemployment number stood steady at 13.1 percent.

[How can the top-line unemployment number keep dropping – from 7 percent to 6.7 percent – despite the lousy hiring? In a stagnant economy, that measure is largely irrelevant because it measures only those still looking for work.]

Un-fab five - The places with the highest unemployment according to the most recent data: Rhode Island, 9 percent; Nevada, 9 percent; Michigan, 8.8 percent; Illinois, 8.7 percent; D.C., 8.6 percent. The five best: North Dakota, 2.6 percent; South Dakota, 3.6 percent; Nebraska, 3.7 percent; Utah, 4.3 percent; Hawaii, 4.4 percent

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