Unemployment Ticks up to 7.8%, a Meager 155K Jobs Created, Debt at $16.4 Trillion and Obama is on Vacation
WELCOME TO THE NEW OBAMA JOBS NORMAL …
The Obama jobs recovery still pathetic … only 155,000 jobs created in December 2012 and the unemployment rate ticked up to 7.8%. Get used to it America, this is what you wanted and this is what you are going to get. The reelection of Barack Obama will mean more of the same, a lackluster economy and a $16.4 trillion debt and getting higher every second. We have more people on unemployment longer than ever before. Its almost like being on unemployment is an Obama job. We have more people on food stamps and disabilities than ever before. Jobs be damned. This is what you voted for, more of the same. Don’t worry America, your president is hard at work fixing the problem. NOT! Actually he flew off to Hawaii again for yet another vacation but not after raising taxes.
U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during tense fiscal cliff negotiations in Washington.
The solid job growth wasn’t enough to push down the unemployment rate, which stayed 7.8 percent last month, according to the Labor Department’s report Friday. November’s rate was revised higher from an initially reported 7.7 percent.
Stock futures rose modestly after the report was released.
Robust hiring in manufacturing and construction fueled the December gains. Construction firms added 30,000 jobs, the most in 15 months. That likely reflects additional hiring needed to rebuild after Superstorm Sandy and also solid gains in home building that have contributed to a housing recovery.
Manufacturers gained 25,000, the most in nine months.
Even with the gains, hiring is far from accelerating. Employers added an average of 153,000 jobs a month last year, matching the monthly average in 2011. Employers added 1.84 million jobs in 2012, the same as the previous year.