We’re not the only news publications watching unemployment numbers. Here’s one:
From The Wall Street Journal:
Total U.S. job growth accelerated and the unemployment rate ticked lower in December, signs of strength for the labor market amid broad economic uncertainty for the new year.
Nonfarm payrolls rose by 200,000 last month, the U.S. Labor Department reported in its monthly survey of employers. Private companies added 212,000 jobs, while the public sector–federal, state and local governments–shrank by 12,000.
The unemployment rate, obtained by a separate survey of U.S. households, sank to 8.5% in December, its lowest level since February 2009. November’s rate was revised up to 8.7%. http://online.wsj.com/article/SB10001424052970203471004577144392378730950.html?mod=djemalertNEWS
Notice they give slightly more info about where they got the numbers, but if you parse the article carefully you will see that the hiring numbers came from the federal govt, while the unemployment rate came from “a separate survey of households.” Notice, too, how different the charts are from those of the LA Times, in our earlier post on this topic.
Also, from the article: “The economy added 1.6 million jobs in 2011, bringing nonfarm payrolls to about 131.9 million last month. That is roughly 6.1 million less than January 2008…” IOW, we’re not out of the woods yet.
But, wait! Here’s a cool video, courtesy ofMish’s Global Economic Trend Analysis
The reporter is *sob* not IFO!