Unemployment Hits 7.2%!

A staggering amount of jobs were lost in December, the highest jobless rate since January 1993.

The news out Friday morning reveals that 524,000 jobs were shed, leading our country’s unemployment from 6.8% to 7.2%.

Since the start of the recession in December 2007, the number of unemployed Americans has grown by 3.6 million, according to the latest Bureau of Labor Statistics data.

Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 315,000 to 6.5 million in December. Over the past 12 months, the size of this group has increased by 2.7 million.

Within professional and business services, the temporary help industry lost 81,000 jobs in December, bringing job losses in 2008 to 490,000.

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On the bright side, healthcare employment continued to grow in December (32,000), with over-the-month job gains in ambulatory services (14,000) and hospitals (12,000). In 2008, healthcare added 372,000 jobs.

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In related economic news, the BLS reports that wives’ salaries are starting to surpass their husbands’ salaries. In 1987, 18% of working wives whose husbands also worked earned more than their spouses; in 2006, the proportion was 26%.

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Elaine Rigoli has nearly 15 years of experience managing content and community for various B2B and consumer websites. Elaine has written thousands of business and technology articles and has been quoted in The Wall Street Journal and eWeek, among other publications.

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3 Comments on “Unemployment Hits 7.2%!

  1. Have look at Ireland.

    Unemployment is set to hit 12% +

    All the while as our Taoiseach (Prime Minister) is paid more that the President of the United States. The Republic of Ireland has a population of a little over 4 million and the US in the hundres of millions. You can see why the Irish economy is in the state it is in.

    However, we are still encouraged by comments left on our blog by one poster regarding staying positive.

    http://jobs2ireland.com/jobs2ireland-blog/signs-that-job-market-is-slowing-down/comment-page-1/#comment-18

    John

  2. Reading through your article and the increase in unemployeed people and listening to the amount of layoffs on the news every day makes me wonder if we have enered an economic depression or would the still be considered a recession? I have also been to a few different sites the are taylored to the unemployed. I reccomend checking out http://www.mycitystop.com. It’s a social networking site for people who need or have helpful tips on how to survive this crisis.

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