Big miss: Dec. job gains just 74,000
The job gains for December was only 74,000, the lowest monthly gains in other 5 years. The median number of jobs that economists had predicted December would add was 205,000 according to a survey conducted by USA Today. The December numbers mean that for the year, 2013 added 2.18 million jobs, which is slightly less than 2012?s. The national unemployment rate fell from 7% to 6.7% however, signaling that there was a significant drop in the US labor force. A US Department of Labor survey of Americans showed that about 273,000 people had not worked for any of December, while the long-term average is 166,000. In December, Retailers led in the number of job gains followed by Professional and Business Services, and then Manufacturers.
See "Big miss: Dec. job gains just 74,000", Paul Davidson, USA Today, January 9, 2014