Economy loses more jobs, unemployment at 10 pct.

Page Last Updated: Friday January 8, 2010 7:49am PST

WASHINGTON (AP) -- The economy lost more jobs in December and the unemployment rate was unchanged, as a sluggish economic recovery has yet to revive hiring among the nation's employers.

The Labor Department says employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected. A sharp drop in the labor force, a sign more of the jobless are
giving up on their search for work, kept the unemployment rate at 10 percent, the same as in November.

Once people stop looking for jobs, they are no longer counted among the unemployed.

Revisions to the previous two months' data showed the economy actually generated 4,000 jobs in November, the first gain in nearly two years, while it lost 16,000 more than previously estimated in October.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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COMMENTS

January 19, 2010 10:12pm PST

Mark as Offensive

Having job hiring for this kind of economy is a good sign. <a rev="vote for" title="Unemployment Rate Falls Raising Hopes of a Recovery" href="http://personalmoneystore.com/moneyblog/2010/01/15/unemployment-rate-falls-raising-hopes-recovery/ ">Unemployment rate</a> hinges on. This October 2009, both the jobless rate and underemployment rate goes down. Let's just hope that it will continue so that the anticipated recovery may be be far off.