Universal Translator

Saturday, January 7, 2012

Some Honest to God Good Employment News

Last month the US added 200,000 new jobs, and the official unemployment rate dropped to 8.5%.  This is a big deal, because as a rule of thumb the US needs to add about 150,000 new jobs each month just to keep up with population growth.  So, roughly speaking, 200,000 new jobs means that not only did we manage to accommodate all the new workers entering the labor force, but also that about 50,000 people who previously had been unemployed were able to get a job.

Yay, us.

There's still a long way to go, and all the usual caveats about potential future crises still apply (I for one am still keeping a wary eye on Europe), but good news on the employment front is fairly rare these days and I'm happy to have an opportunity to remark on something positive for a change.

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