Jan 14

74,000 Jobs Added In December, Unemployment Rate Hits Five Year Low

There were only 74,000 jobs added to the public and private payroll in the month of December, but even though this number maybe low to some, it lowered the unemployment to a 5 year low at 6.7 percent.

The 74,000-gain in payroll employment last month was far below the 195,000-or-so that economists expected. But the unemployment rate fell 0.3 percentage points, which also surprised the experts. They had thought the rate held steady at November’s 7 percent.

Those figures often seem to contradict each other because they’re based on different surveys. The job growth data come from surveys of businesses and government agencies. Those institutions are basically asked to report how many jobs they have on their payrolls. The unemployment figure, meanwhile, comes from a survey of households. People are basically asked if they were or were not working.

To understand what’s going on, it’s important to dig into the data behind the unemployment rate. According to BLS, there were 347,000 fewer people in the “civilian labor force” last month than there were in November. That group includes both those who have jobs and those who say they’re looking for work.

So, considering there was a 347,000 less unemployed citizens in December compared to November, where did they all go? Records show that last month 917,000 individuals were classified as “discouraged workers”, those who are unemployed, looking for a job, but have given up after not getting hired. Last month the number of discouraged workers had gone up by 155,000, having a substantial number of discouraged workers is not a positive sign for the labor force.

Fledgeling is trying to narrow the gap of discouraged workers, and unemployed individuals all together. With a wide variety of price ranges, Fledgeling has a way for any employer to post a job, and for job seekers, you will never have to pay a penny. This formula will hopefully help drive up the number jobs available for part-time, entry level, and internship positions. The number of college graduates is a number that increases every year thanks to large universities, expanding smaller university, and online diplomacy. Don’t be a discouraged worker, start your career today on Fledgeling.


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