Payroll has decreased in 35 U.S. states in December, while the unemployment rate rose in 20, showing that the labor market is still recovery is slow to gather momentum. New York led the nation with 22,800 job cuts in December, followed by Minnesota with 22,400 firings and Florida with 17,900 figures from the Labor Department showed today in Washington. The report is consistent with figures on January 7 that showed a fewer than forecast of 103, 000 jobs were created nationwide last month even as unemployment fell. However, the Federal Reserve policy makers meeting today and tomorrow are likely to reiterate a pledge to buy $600 billion in government securities through June to help lower unemployment and spur growth. “This kind mixed picture and the combination with some of the positives we have seen in retail sales and manufacturing data, rising credit, tell us that we are at a turning point in the economy,” said Steven Cochrane, director of regional economics at Moody’s Analytics Inc, in West Chester, Pennsylvania.
I believe that the Federal Reserve is just trying to get the economy at its 2% leveling out the economy rather than spending up the unemployment rates. That is not right. There are too many people who are on unemployment that are skilled and equipped to do a job. Many have to go without medicine and cut back on unnecessary spending. These are just a few things that would be cut out after losing their previous job and benefits. It is
