Friday, January 4, 2013

The Last Jobs Report of 2012

December's employment figures, released this morning, show a holding pattern for the jobs market, with everything pretty much the way it has been in recent. months. The economy added 155,000 jobs in December, capping off a year in which we saw an average of 153,000 new jobs per month, so that is right on target. The average was 153,000 jobs per month in 2011 as well.

Superstorm Sandy may have had a positive effect on hiring for December. The construction sector added 30,000 new jobs, which was the second-most behind only the health-care sector at 45,000.

The unemployment rate remained unchanged at 7.8 percent, which may come as a surprise to those of you who follow these things closely. November's unemployment rate was first reported, back in early December, at 7.7 percent. That number was revised upward in today's report, which acknowledges now that the more accurate figure was 7.8 percent all along.

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