Reuters Writes: U.S. job growth weakest in three years
WASHINGTON (Reuters) – U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact.
Nonfarm payrolls rose only 74,000 last month, the smallest increase since January 2011, and the unemployment rate fell 0.3 percentage point to 6.7 percent, the Labor Department said on Friday. The unemployment rate was the lowest since October 2008 and in part reflected people leaving the labor force.
Read The Rest Of The Article Here
WOW. Really? Due to cold weather? I am shocked.
The real reason behind this is rotten fundamentals of the US Economy that are getting worst by the day. Please don’t get me wrong. I am acutely aware of how the US Government and our financial media “propaganda machine” portrays recent gains in the stock market. According to them the economy is doing great, everyone should join hands and sing kumbaya as the stock market takes off to infinity and beyond. Making us all wealthy in the process.
Yet, the reality is quite different. Even thought they have pumped a tremendous amount of money into the economy, it is getting weaker by the day. There is no pricing power and businesses are not hiring due to uncertainty. I continue to see this in the quarterly reports that I read. No matter what they want you to believe, the jobs are not coming back anytime soon. In addition to poor economic conditions, productivity gains, outsourcing, technological advances and even robotics are all taking a tall on real job creation.
The bottom line is this. If you have a good paying job….treasure it. If you don’t, try to get whatever you can. As the bear market starts in 2014, corporations and businesses throughout the US will hand out pink slips by the million. Just as they did in 2000-2004 and 2007 – 2010. I wish that wasn’t the case, but the reality can be harsh sometimes.
Did you enjoy this article? If so, please share our blog with your friends as we try to get traction. Gratitude!!!
Still Unemployed? Don’t Worry, Many Others Will Be Joining You Soon