U.S. Nonfarm jobs drop by 524k in December. Unemployment rate hits 16-year high. |

Posted by:forexexplore 1232 days ago • Discuss • http://www.forexexplore.com

U.S. Nonfarm Payrolls employment data released today showed that jobs fell by more than 500,000 for the second straight month in December. The Department of Labor nonfarm payrolls report showed that U.S. payrolls shed 524,000 jobs in December following a revised drop of 584,000 jobs in November. The November payrolls data had originally showed a decline of 533,000 jobs and the number of job losses total in 2008 extended to 2.6 million. The two months straight of over 500,000 jobs lost marked a first in the history of the government report. December's jobs data surpassed economic forecasts that were expecting a job loss of approximately 500,000 workers for the month.

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