Employment News Jan. 3 - 7

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News
FRIDAY
103K new jobs in Dec. point to slow, steady growth
The nation's economy added 103,000 jobs in December and the unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months.
Poland's jobless rate jumps to 12.3 percent
Poland's Labor Ministry says that unemployment jumped to 12.3 percent in December from the 11.7 percent the previous month.
U.S. Adds 103,000 Jobs in December, Unemployment at 9.4%
Employers in the U.S. added fewer jobs than forecast in December, confirming Federal Reserve Chairman Ben S. Bernanke’s view that it will take years for the labor market to heal.
Bernanke: Recovery on Track But Not Enough to Create Jobs
The U.S. economy may be finally hitting its stride, even if growth remains too weak to put a real dent in the nation's jobless rate, Federal Reserve Chairman Ben Bernanke said Friday.
Dollar Fluctuates as Employers Added Fewer Jobs Last Month Than Forecast
The dollar fluctuated against major counterparts as the U.S. payrolls report showed employers added fewer jobs last month than economists forecast while the unemployment rate dropped.

THURSDAY
Jobless claims rise, but positive trend intact
More Americans applied for unemployment benefits last week, but not enough to reverse a downward trend that suggests employers will accelerate hiring in the coming months.
2011: Happy New Job!
"Hire more workers" appears to be a popular New Year's resolution for employers this year.
Jobless claims rise above 400,000 again
The number of Americans filing for their first week of unemployment benefits rose 18,000 to 409,000 last week.
More people apply for unemployment aid last week
More people applied last week for unemployment benefits, one week after applications fell to the lowest level in more than two years.
Where the Jobs Aren't: Grappling with Structural Unemployment
You've read the good news. The official unemployment rate has leveled off. But that is like saying of a patient on life support that at least he isn't losing any more blood. Job creation still isn't what it should be, and the time it takes seekers to get a new job still hovers around a record 35 weeks.

WEDNESDAY
Strong signs of life for the job market
Private sector payrolls soared in December while downsizing sank, two separate reports showed Wednesday in a strong indication of a brightening U.S. jobs picture.
Planned Layoffs Down in 2010
The number of planned layoffs at U.S. firms fell in December to the lowest level since 2000, while the combined yearly total was the lowest since 2007, a report said on Wednesday.

MONDAY
U.S. changes how it measures long-term unemployment
So many Americans have been jobless for so long that the government is changing how it records long-term unemployment.
Initial Jobless Claims Fall Steeply But Could Be Seasonal Fluke
Drop continues downward trend, but could reflect temporary seasonal factors.
2011: A hiring boom, even at 9% unemployment
After three years of economic pain, a growing number of economists think 2011 will finally bring what everyone's been hoping for: More jobs and a self-sustaining recovery.
Dollar General to hire 6,000
Dollar General plans to create 6,000 new jobs in the next year, the discount retailer said Monday

Economist Comments
FRIDAY
How to Create Jobs – Without Increasing the Deficit
If Congress and the White House do embark on major tax reform, as appears increasingly likely, they may finally get around to one of the most promising and yet least talked-about actions to promote private-sector job creation. Lost amid all the controversy about extending the Bush tax cuts is the fact that slashing the corporate income-tax rate could be one of the greatest elixirs for long-term job growth, and it is one that would not require any additional government spending and need not add a cent to the budget deficit.
Unemployment Claims Update
While this year's end-of-year rise in claims is better than the past two years, the numbers are still a lot worse than during good economic times.
Help Wanted? Why Obama Doesn't Need a Jobs Czar
Ultimately, bureaucratic shuffles affect the bureaucracy, not the economy. A jobs czar might change the power dynamics among people working at the White House, but not the power of the White House. Because the guy with the most power lives there, too.

TUESDAY
Labor's Coming Class War
Private-sector union workers begin to notice that their job prospects are at risk from public-employee union contracts.

MONDAY
Where Are All the Jobs?
The figure of 15 million unemployed reported by the government and reiterated by the corporate media is one of the biggest distortions ever.

Blogs
FRIDAY
Unemployment: Why Don't Employers Fish More?
I am trying to sort out my thinking on unemployment in the Recalculation Story. I think that a basic question is this: when workers lose jobs because a sector needs to shrink, this creates a pool of unemployed workers. Why don't firms fish in that pool? More thoughts below.
Unemployment Rate Drop Discussion
The deeper data suggest this might be a continuation of falling labor force participation rates and discouraged workers. This is the bad news view.
Why Did the Unemployment Rate Drop?
The U.S. jobless rate dropped substantially to 9.4% in December, but the government’s broader measure of unemployment dropped at a more modest pace to 16.7%, highlighting the problem of the long-term unemployed.
Americans Are Fleeing Obama’s Crony Capitalist Economy
Today the Bureau of Labor and Statistics released its monthly jobs report showing that the U.S. economy added only 103,000 jobs this December. With the unemployment rate now at 9.4%, this marks the 20th month in a row that the unemployment has been over 9 percent, a post–World War II record. You are going to hear a lot of noise from the White House about how this drop from a 9.8% unemployment rate to 9.4% means the economy is in a strong recovery. This is false.

THURSDAY
Private Sector Employment Growth Triples in December?
As noted at CalcRisk, the official Labor Dept. employment numbers are expected to be more modest, with a net increase of 140,000 payroll jobs in December. That is still heartening news, and would also be several times larger than previous months.
Record-breaking job creation in December, reports ADP
Employment added more jobs in December 2010 than in any month of the past decade, as private employers – mostly smaller service-providing firms – added almost 300,000 new jobs.

WEDNESDAY
City Unemployment: Little Progress
Most cities made little progress on the jobs front in the twelve months ended November 2010, according to new data from the Labor Department.
Worst. Recession. Jobs. Recovery. Ever.
We're more optimistic that 2011 will see a much stronger recovery in jobs than did 2010, but then, it would be hard for it not to do so, wouldn't it?

TUESDAY
Labor Market Commentary
Two pointers from the indispensable Mark Thoma.

MONDAY
Weekly Initial Unemployment Claims below 400,000, Lowest since July 2008
In the week ending Dec. 25, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 34,000 from the previous week's revised figure of 422,000. The 4-week moving average was 414,000, a decrease of 12,500 from the previous week's revised average of 426,500.
Has Government Grown Since the Recession Started?
Many conservatives and small-government advocates have made the case that the number of government employees has increased or, at least, that they are in a better situation than private sector employees during this recession. Paul Krugman of the New York Times wants them to admit that it is not true.

Reports
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