Unemployment managed to drop while the un seasonally adjusted number of employed dropped from 147,666,000 in November to 147,190,000 in December. The participate rate went from 59.3 to 59.1
Jobless rate falls to 5.6 percent By Vicki Needham - 01/09/15 08:39 AM EST
Employers added 252,000 jobs in December and the unemployment rate dropped to 5.6 percent, the Bureau of Labor Statistics reported on Friday.
The final month of 2014 beat economists' expectations, a good sign for the labor market 2015. After falling from 5.8 percent, the jobless rate is now the lowest since June 2008.
But there are concerns about the pace of wage growth.
Speaker John Boehner (R-Ohio) said “it’s always welcome news when more Americans find work. “Yet while the economy is showing some signs of improvement, far too many middle-class families are struggling to bridge the gap between rising costs and stubbornly flat paychecks.”
The promising wage growth of November slipped in December, with average hourly earnings falling 5 cents to $24.57, following an increase of 6 cents in November.
“Today’s job’s report, again, was very strong and shows the labor market is maturing and economy performing soundly,” said Jack Kleinhenz, chief economist of the National Retail Federation.
“However the earnings data was a bit disappointing,” he said.
The economy created an average of 289,000 jobs over the past three months, one of the best streaks on record.
Isn't that the truth! It is shameless and unchallenged by the free press.
I know, free press? what's that?
** Rich Lowry, Nov 30, 2014 on “Meet the Press” Sunday, National Review editor
Stop trying to make the Ferguson protests something they weren’t. And, just as importantly, stop trying to make Michael Brown, the man shot to death during a fight with police Office Darren Wilson in August, something he wasn’t.
“If you look at the most credible evidence, the lessons are really basic ... don’t rob a convenience store. Don’t fight with a policeman when he stops you and try to take his gun. And when he yells at you to stop, just stop.”