Economy Loses More Jobs, but Unemployment Still at 10 Percent
David Sessions
Washington Reporter
Posted:
01/8/10
The U.S. economy lost more jobs in December, but the unemployment rate stayed at 10 percent, the Associated Press reports. The labor department said that employers cut 85,000 jobs last month, more than 10 times the forecasted decrease of 8,000.
A sharp drop in the labor force, a sign that many workers are giving up on finding new jobs, kept the employment rate the same as it was in November. Once someone stops looking for work, they are no longer counted among the unemployed.
According to revised figures, the economy gained 4,000 jobs in November, the first month of growth in over two years.
A sharp drop in the labor force, a sign that many workers are giving up on finding new jobs, kept the employment rate the same as it was in November. Once someone stops looking for work, they are no longer counted among the unemployed.
According to revised figures, the economy gained 4,000 jobs in November, the first month of growth in over two years.