U.S. unemployment rate keeps at 10% in December
www.chinaview.cn 2010-01-08 21:43:41   Print

    WASHINGTON, Jan. 8 (Xinhua) -- The U.S. unemployment rate remained unchanged at 10 percent in December 2009, matching economists' expectations.

    According to Labor Department figures released Friday, employers cut 85,000 jobs in the past month, worse than the 8,000 drop analysts expected. Employment fell in construction, manufacturing and wholesale trade, while temporary help services and health care added jobs.

    In December, both the number of unemployed persons, at 15.3 million, and the unemployment rate, at 10.0 percent, were unchanged.

    At the start of the recession in December 2007, the number of unemployed persons was 7.7 million, and the unemployment rate was 5 percent.

    Since the recession, U.S. unemployment increased to 10.2 percent in October, a 26-year-high, and fell 0.2 percentage point in November.

    According to the Labor Department, the manufacturing sector shed 27,000 jobs last month while construction industries axed 27,000 jobs. Retail trade employment was little changed over the month. Wholesale trade employment declined by 18,000 in December.

    Meanwhile, temporary help services added 47,000 jobs and healthcare employment continued to increase, with 22,000 new jobs in December. The health care industry has added 631,000 jobs since the recession began.

    The average workweek in December also stayed unchanged at 33.2 hours. The manufacturing workweek held at 40.4 hours and factory overtime remained at 3.4 hours.

    Since May, the manufacturing workweek has increased by one hour.

    In November, average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls edged up by 3 cents, or 0.2 percent, to 18.80 dollars.

    Over the past 12 months, average hourly earnings had risen by 2.2 percent, while average weekly earnings had risen by 1.9 percent, the Labor Department said.

    However, the Federal Reserve -- central bank of the United States -- has warned that the nation's unemployment rate will remain elevated into 2011. Many economists also believe the labor market may not get back to normal -- meaning a 5 percent unemployment rate -- until 2013.

Dollar rises ahead of U.S. nonfarm payroll data 

    NEW YORK, Jan. 7 (Xinhua) -- The U.S. dollar rose against major currencies on Thursday as investors are waiting for the U.S. nonfarm employment report of December to be released on Friday.

    It was widely expected that the report will be encouraging, with employment flat or just slightly lower than a month ago. Some analysts forecast a small increase which would be the first growth in 2 years. Full story

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Editor: Fang Yang
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