So the job picture didn’t work out as hoped

U.S. nonfarm payroll employment decreased by 85,000 jobs in December.  (here) However, the previous month was revised upward from 11,000 jobs lost to 4,000 jobs gained, so we were able to eke out some positive job growth after all.  My previous posted hoped for some positive job growth, given the prior enthusiasm and I’ll take some at least in the revisions.   It is interesting that the ADP numbers was only off by a 1,000 given the usual disparity, but that is mostly due to a decreases in the government employment.  Professional business services and health and education services happened to add a total of 85,000 jobs while every other sector dragged down the total number.  Overall, not good but not that bad either. At least the unemployment rate didn’t budge.  No one really hires during the holidays and will only fire given necessity.   In times like these necessity holds out more than usual since the environment for demand is poor.  This only leads me to believe that 2010 should be a good year for jobs and January will be the month to start.


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