December Unemployment Lowest In Three Years

The unemployment rate is down to 8.5%, with 200,000 jobs added.

It was an even stronger finish to the year than economists had forecast. They had forecast that employers added a net 150,000 jobs last month, according to a survey by Factset. They also had predicted that the unemployment rate ticked up to 8.7% from November’s 8.6%, which was the lowest rate since March 2009.

As it turned out, November’s unemployment rate was revised up in this report, to 8.7%.

The better-than-expected monthly gain of 219,000 private-sector jobs means American businesses have replaced more than 3 million of the 4.2 million private-sector jobs lost the past 13 months.

By: Alan

Alan Colmes is the publisher of Liberaland.