December Unemployment Improves Slightly to 8.5 Percent
Matt | On 06, Jan 2012
There is a little bit of good news on the economic front as we head finish out the first week of the new year.
Federal unemployment fell again to 8.5 percent for December. This is a small improvement from the 8.6 percent rate in November.
The economy added a net total of 200,000 jobs — a very respectable number considering the weak growth from previous months. Of these positions, 212,000 were in the private sector. The government removed 12,000 jobs from its rolls, continuing its shrinking trend.
So, what do these numbers really say for the average American?
One could easily guess that the economy doesn’t have ebola anymore and has been downgraded to maybe a very rough flu. It could also be said that the president’s stimulus is finally working, consumer and employer confidence is coming back, and we are slowly seeing some type of “recovery.” This can be spun a lot of ways.
Of course, any Negative Nancy will say that the 8.5 percent rate doesn’t include those who have simply stopped looking for work. Republicans also aren’t going to give President Obama an ounce of credit for the jobs added or the jobless rate — especially not in an election year.
On the campaign trail, this adds fuel to the Obama 2012 White House bid. Any incumbent president that can go on the road and show how unemployment is falling now has some ammunition with voters.
Expect to see the GOP candidates continue to look at the economic glass as half-empty. They will continue to ignore the 91.5 percent of Americans who ARE working and focus on why the jobless are still stuck in these conditions and how it’s all President Obama’s fault.
We should all be pretty used to this by now. It’s the same characters and their same canned reactions. I’d really like to offer a round of applause not only to the job creators, but the employees who make this whole economy work. Keep fighting for your due coins!