Economy loses 85K jobs as employers remain wary

http://finance.yahoo.com/news/Economy-loses-more-jobs-apf-2245188994.html?x=0&.v=8

Economy loses 85K jobs as employers remain wary

Employers cut more jobs than expected in December, unemployment rate holds at 10 percent

WASHINGTON (AP) -- Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can't find jobs.

The sharp drop in the work force -- 661,000 fewer people -- showed that more of the jobless are giving up. Once people stop looking for jobs, they're no longer counted among the unemployed.

When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called "underemployment" rate in December rose to 17.3 percent, from 17.2 percent in November. That's just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.

 

Obama just doesn't get it. He comes out today with another penny ante program to "stimulate" jobs. It will do almost no good at all, but is true to his ideology. The country can slide off in an abyss for all he cares as long as he can say he's a true ideologue.

Is there anyone more economically challenged than this moron?

 

"The buck stops here."