It’s jobs day in America.
This morning we learned that the U.S. economy added 155k jobs in December and the unemployment rate ticked up in 7.8 per cent.
Although the numbers were in line with economists’ expectations, they still reflect a job market that remains incredibly weak almost four years into the economic recovery.
Calculated Risk runs a chart every month putting the current jobs recovery into perspective.
“This shows the depth of the recent employment recession – worse than any other post-war recession – and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis,” writes Bill McBride of Calculated Risk.
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Watch below all the details about the fiscal cliff decision: