Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

A landslide victory for the 'invisible candidate' in Algeria's Presidential polls

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014 (part 2)

Read more

MEDIAWATCH

Presidential adviser resigns over "shoe-shine scandal"

Read more

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

FASHION

Jean-Marc Loubier, bags and shoes.

Read more

ENCORE!

Hip-hop musician Beat Assailant on mixing the sounds of the city

Read more

  • Freed French journalists arrive home after Syria ordeal

    Read more

  • French journalist tells of release from captivity in Syria

    Read more

  • Divers begin pulling bodies from sunken South Korean ferry

    Read more

  • ‘Deadly clashes’ at Eastern Ukraine checkpoint

    Read more

  • Militants kill Algerian soldiers in deadly ambush

    Read more

  • Scores killed in South Sudan cattle raid

    Read more

  • PSG clinch fourth League Cup title after beating Lyon

    Read more

  • Le Pen’s National Front fail to woo Britain’s Eurosceptics

    Read more

  • In pictures: French kite festival takes flight

    Read more

  • VIDEO: Anti-Semitic leaflets in Eastern Ukraine condemned

    Read more

  • In pictures: Good Friday celebrated across the globe

    Read more

  • Bouteflika, the ghost president

    Read more

  • Does Valls’ upcoming Vatican trip violate French secularism?

    Read more

  • Ukraine separatists say ‘not bound’ by Geneva deal

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • Obama signs bill to block controversial Iran diplomat from UN post

    Read more

  • Ukraine: ‘One bloody incident could scupper Geneva deal’

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • Indian election: Votes for sale

    Read more

  • World honours Garcia Marquez’s magical literary legacy

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

  • Algeria's ailing Bouteflika clinches fourth term amid fraud claims

    Read more

  • West African Ebola outbreak caused by new strain of virus

    Read more

Americas

Unemployment figures dash hopes for growth in US economy

©

Text by News Wires

Latest update : 2010-01-08

Disappointing figures released by the US Labour Department on Friday show the US economy lost 85,000 jobs in December while the unemployment rate held at 10.0 percent.

AFP - The US economy lost 85,000 jobs in December while the unemployment rate held at 10.0 percent, the government said Friday in a report dashing hopes of a turnaround in the ailing labor market.
  
The Labor Department report on nonfarm payrolls was a disappointment to those hoping for growth in jobs, which is critical to recovery from recession.
  
The figure was far worse than the consensus expectation for no change in overall employment levels, and came amid a wide array of predictions ranging from steep losses to modest gains.
  
But in revising data for prior months, the report showed a net gain of 4,000 jobs in November instead of a loss of 11,000 previously reported.
  
The agency also revised its October estimate to show a loss of 111,000 jobs in October instead of 127,000.
  
In December, the goods-producing sector shed 81,000 jobs including 27,000 in manufacturing and 53,000 in construction.
  
The services sector lost a modest 4,000 jobs, with a loss of 10,000 in retail offset by gains in education, health care and professional services.
  
Government sector employment fell by 21,000 in the month.
  
Average hours worked, sometimes seen as a proxy for economic activity, was unchanged in December. Average hourly earnings meanwhile rose 0.2 percent.
  
The civilian labor force fell by 661,000 in the month, suggesting that more people are stopping their search for employment.
  
"The unchanged unemployment rate of 10 percent understates labor market slack, since labor force participation fell sharply," said Sophia Koropeckyj at Moody's Economy.com.
  
"Accordingly, the broader measure (of unemployment) increased to 17.3 percent," she said.
  
 

Date created : 2010-01-08

Comments

COMMENT(S)