US Economy Sheds 85,000 Jobs in December

The US Labor Department released its Non-Farm Payroll employment report this morning showing that 85,000 jobs were lost in December. The actual result far exceeded the 8,000 predicted.

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 percent, the same as in November. Once people stop looking for jobs, they are no longer counted among the unemployed.

Associated Press

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