Jobs Alert: Unemployment Unchanged at 7.8%

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jobs-unemploymentNon-farm payroll employment rose by 155,000 largely in the sectors of health care, food services, drinking places, construction and manufacturing.

Of course, during the hustle and bustle of the holiday season, people often spend more time at holiday parties that could be held at restaurants and bars.  People on the go during shopping season also tend towards a fast bite to eat.

So has anything really changed in the face of Barack Obama’s re-election as President and the fiscal cliff temporary fix?

Today’s forecast for December 2012 by the U.S. Bureau of Labor Statistics shows that unemployment remains unchanged at 7.8%.  This percentage is down over the last year (December 2011 unemployment was 8.5%).

The good news is that with all the drama of fiscal cliff negotiations between the President and Congress in December, things appear relatively unchanged.  But that was several weeks ago.  It will be interesting to see how January 2013 and February 2013 numbers fare in the face of uncertainty since the cliff deal is temporary, providing more questions than answers for businesses and job seekers.

The number of unemployed persons, at 12.2 million, was little changed in December. The unemployment rate held at 7.8 percent and has been at or near that level since September. (See table A-1.)

Among the major worker groups, the unemployment rates for adult women (7.3 percent) and blacks (14.0 percent) edged up in December, while the rates for adult men (7.2 percent), teenagers (23.5 percent),
whites (6.9 percent), and Hispanics (9.6 percent) showed little or no change. The jobless rate for Asians was 6.6 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2,
and A-3.)

In December, the number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 4.8 million and accounted for 39.1 percent of the unemployed. (See table A-12.)

The civilian labor force participation rate held at 63.6 percent in December. The employment-population ratio, at 58.6 percent, was essentially unchanged over the month. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 7.9 million, changed little in December. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

Read the rest at the Bureau of Labor Statistics here.

 What do you think?  Do you feel more financially secure or less financially secure in 2013?