December Unemployment, Underemployment Numbers

by bkrigbaum@solagroup.com








The U.S. Bureau of Labor Statistics
released December employment numbers

this morning. The news is either good or bad depending on your
perspective. The unemployment numbers dropped to 9.4 percent down from
9.9 in December 2009. Unemployment is also down from previous
month numbers of 9.8 in November 2010.

This is a slight drop, however, the Bureau claims 103,000 jobs were
added to the economy.

Gallop also released its latest
unemployment report
this week
which cites the underemployment rate increased to 19 percent in
December. This is up from 17.2 percent in November. Underemployment is
defined by Merriam-Webster as those working less than full time with
respect to training or economic needs.

In November, RD+B
magazine reported the housing market

will only recover after jobs recover, according to NAHB economists.

The job numbers might not be dramatic, however, its decrease may
improve consumer and builder confidence.

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