U.S. economy loses 85,000 jobs in December; unemployment rate remains at 10%
In the January 8, 2010 article " Economy loses 85K jobs, unemployment rate steady ," Associated Press economics writer Christopher Rugaber summarizes the U.S. Bureau of Labor Statistic's employment situation report for December 2009. The BLS publishes its Employment Situation Summary on the first Friday of each month. It also provides other extensive U.S. labor market data . WASHINGTON – Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can't find jobs. The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up on their search for work. Once people stop looking for jobs, they are no longer counted among the unemployed. When discouraged workers and part-time workers who would prefer full-time j...