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December Disappointing for Unemployment Numbers

09-07-2014

U.S. employers added 74,000 jobs in December - the fewest in three years.

However, the Labor Department reports the unemployment rate dropped from 7 percent in November to 6.7 percent, the lowest level since October 2008.

That drop happened in part because more Americans stopped looking for work. The government counts people as unemployed only if they are actively searching for jobs.

December's hiring is far below the average increase of 214,000 jobs a month in the last four months. The cold weather might have been the reason since construction firms had to cut jobs.

The disappointing report ends 2013 on a weak note, even though economic reports raised hopes for a strong finish.

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