Unemployment Hits 7.2%

Half a million jobs lost in December according to the Department of Labor. Both November and October job losses were revised upward:

November’s job losses were revised to show a cut of 584,000, previously reported as a 533,000 loss, while October’s losses were revised to 423,000 from a decline of 320,000.

With those revisions, the total reduction in U.S. nonfarm payrolls in the four months through December was 1.9 million.

And that’s all there is to say about that.

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