Employment, Payrolls Up In December

Job gains were not what were hoped for, but the unemployment rate went down to 9.4% in December.

The economy added 103,000 jobs in December — falling short of most expectations. Meanwhile, the unemployment rate sunk to 9.4%, its lowest level since May 2009, confusing some economists.

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According to Friday’s report, businesses were hiring, adding 113,000 jobs to payrolls in December. But the government continued to shed staff, cutting 10,000 workers from payrolls.

However, 2010 saw 1.1 million jobs added, the best one-year gain since 2007.

By: Alan

Alan Colmes is the publisher of Liberaland.