Weekly Wrap

First, the polar vortex. Now, a winter jobs swoon!

Kai Ryssdal Jan 10, 2014
HTML EMBED:
COPY
Weekly Wrap

First, the polar vortex. Now, a winter jobs swoon!

Kai Ryssdal Jan 10, 2014
HTML EMBED:
COPY

The Labor Department did the overall economic mood no favors when it released a flat out miserable December unemployment report: Just 74,000 people found work last month.

“What the heck with the ‘Spring Swoon’ starting in the winter,” says Sudeep Reddy, from the Wall Street Journal. “We do know that there were weather effects in this report. We have to be careful not to overstate them, but we can’t get too discouraged about a number that looks kinda wacky.”

And the unemployment rate dropping to 6.7 percent was not good news because the drop in unemployment was largely due to 347,000 people leaving the workforce, according to the household survey.

“There were a lot of discouraging data points in this,” Catherine Rampell, from the New York Times, says. “Just as we kind of thought there was some momentum building … this sort of puts a damper on things.

“You don’t want to put too much weight on it. But if you just take it on its face, it’s not good,” adds Rampell.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.