Employers Cut 85,000 Jobs

The unemployment rate held steady about 10 percent last month, but 85,000 jobs were cut in the United States, the Wall Street Journal reported.

The Nov. 2009 numbers were readjusted, showing the first increase of jobs since the recession started two years ago. But unemployment remains the political issue heading into the year's mid-term elections.

So it's not all bad news heading into a new decade.

In the fourth quarter of 2009, employment losses averaged 69,000 per month, compared to job losses of 691,000 a month in the first quarter of last year, reported the Wall Street Journal.

Employment in construction fell by 53,000 in December, while manufacturing jobs fell by 27,000. Temporary help services added 47,000 jobs in December and health care employment continued to increase, by 22,000.
Ahead of the release, analysts warned against reading too much into one piece of data.

"The number, as reported, is revised no less than three times, often showing a final number that bears little resemblance to the originally reported figures" said Dan Greenhaus, chief economist at Miller Tabak & Co. to the Wall Street Journal.

Continue Reading at WSJ.com

.