U.S. Economy Adds 155,000 Jobs, Rate at 7.8% - KTVN Channel 2 - Reno Tahoe News Weather, Video -

U.S. Economy Adds 155,000 Jobs, Rate at 7.8%

The government's December jobs report highlight a fresh batch off economic data.

It shows U.S. employers added 155,000 jobs, while the unemployment rate remained at 7.8%. The Labor Department report revisED November's rate up from an initial estimate of 7.7%. Robust hiring in manufacturing and construction fueled the gains.

Also today, the Commerce Department says factory orders were flat in November. Durable goods, everything from autos to steel, rose 0.8% while nondurable goods fell 0.6%, reflecting falling petroleum prices. Orders for core capital goods, a category considered a proxy for business investment plans increased a solid 2.6% after a 3% rise in October which had been the strongest gain in 10 months.

And a private sector report finds the U.S. service sector picking up. The Institute for Supply Management says its index of non-manufacturing activity rose to 56.1 in December. Any reading above 50 indicates expansion.


Nevada Senator Harry Reid released the following statement on the December employment report.

"Our economy continues to grow and create jobs, but for those still unemployed in Nevada and throughout the nation, the recovery will not be a reality until they start earning a paycheck once again.

"To keep our recovery going, we need to avoid another knock-down, drag-out fight over whether to default, or to pay our nation's existing bills.  Republicans are threatening to once again hold the full faith and credit of the United States hostage in order to force cuts to Social Security and Medicare.  If our recovery is to take off, we must forego this kind of reckless, partisan brinksmanship, and work together to find solutions that work for the middle class."


U.S. Senator Dean Heller (R-NV) issued the following statement regarding the national unemployment figures:

"Our nation's unemployment number remains far too high and Nevadans are continuing to struggle. With the debt ceiling looming dangerously close, Washington's failure to act right now will result in devastating consequences for Nevada's families and businesses. Earlier this week, I supported a bipartisan plan to make tax relief for the middle class permanent. Now, Democrats and Republicans must come together and put a stop to excessive spending. Reining in spending is the only way to lay the groundwork for economic opportunity for future generations. By working together, I am confident that we can propel this country to a time of greater optimism and success," said Senator Dean Heller.

(The Associated Press also contributed to this report.)

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.