More Americans Jobless
POSTED: Saturday, January 9, 2010 - 11:51pm
UPDATED: Wednesday, February 17, 2010 - 2:26pm
Economy sheds another 85,000 jobs. Unemployment rate stays same...
Jittery U.S. employers threw another 85,000 people onto the unemployment lines in December.
While more than expected it's not enough to move the nation's unemployment rate above ten percent.
"It highlights the fact the coast isn't clear. The job market is improving, but it's not engaging, or in a self-reinforcing recovery," said Mark Zandi of Moody’s Economy.com
Construction workers were the hardest hit losing more than 53,000 jobs.
A large number of them believed to be because of weather.
But economists believe the 10% unemployment rate is deceptively low.
660,000 people aren't even counted because they've given up on looking for jobs.
“If you look at the numbers, the place where you see some serious employment gains are in temporary health employment - exactly what you'd expect if firms are seeing their demand go up but they're really nervous about jumping in and hiring permanently," said White House Economic Advisor Christina Romer.
The Obama Administration is facing increasing pressure to launch another stimulus plan to jump start the economy.
On Friday, the President is announcing another plan to create clean technology and other green jobs.
Meanwhile, 1,800 brown jobs are going away.
Shipping giant United Parcel Service announced it's laying off management and administrative workers to streamline its operations.
One bright note, more than 46,000 temporary jobs were added last month.
Companies traditionally bring in temps before hiring permanent workers.