Unemployment edges down to 9.4% in December, 103k jobs added
January 7, 2011 · Posted in Commentary
The Bureau of Labor Statistics reported that the unemployment rate dropped to 9.4% in December with 103,000 jobs added. Private sector employment increased by 113,000 jobs, while government cut 10,000 jobs.
Let’s breakdown the numbers:
- The unemployment rate for high school drop outs was 15.3%, down from 15.7% last month.
- 4.8% of college graduates were unemployed, down from 5.1% the previous month.
- The jobless rate for high school graduates was 9.8%, down from 10.0%.
- 9.4% of men 20 and over were unemployed, down from 9.9%.
- Women 20 and over had an unemployment rate of 8.1%, down from 8.3%.
- 25.4% of 16 to 19 year olds were unemployed, up from 24.5% last month.
- Jobless rate among whites was at 8.5%, down from 8.9% last month.
- 15.8% of blacks were jobless, down from 16.0% the prior month
The moderate drop in the unemployment rate gave some economists hope that a jobs recovery was on its way for 2011.
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