Unemployment falls in December 2013

The U.S. unemployment rate decreased to 6.7 percent in December 2013 from 7 percent in November 2013 as U.S. employers added 74,000 jobs, which is the weakest showing since the beginning of 2011, according to The Washington Post. Economists were expecting to add 197,000 jobs.

Although the unemployment rate fell to the lowest level since October 2008, 347,000 people dropped out of the labor force and are no longer looking for work while only 143,000 additional people reported having jobs.

In December 2013, the retail sector added 55,000 jobs; professional and business services sector added 19,000 jobs; and manufacturing sector added 9,000 jobs.

The construction sector lost 16,000 jobs. The health care, transportation and warehousing, leisure and hospitality, financial activities and government sectors basically were unchanged.

There currently are 10.4 million unemployed people in the U.S.

Date : 1/13/2014