Payroll processor ADP said Wednesday that companies added 238,000 jobs in December, up slightly from 229,000 in the previous month. November’s figures were revised higher.
“The job market has kicked into a higher gear,” said Mark Zandi, chief economist at Moody’s Analytics, which helps prepare the report. “We’re now 4 ½ years into this economic recovery and there have been a lot of false starts. … But this time it does feel more fundamental, more real, more broad-based.”
That’s right, folks. We told you that things were getting better before, but this time it’s real!
Economists forecast that the government report will show employers added 196,000 jobs last month. That would be similar to the healthy average gain of 200,000 a month from August through November. Those increases have helped push the unemployment rate to a five-year low of 7 percent.
As of November, the Labor Department reports, 63 percent of Americans had a job or were actively seeking work. That’s the lowest level since April, 1978—nearly 36 years ago.
This economy is worse than the one presided over by Jimmy Carter. Why do you think that the politicians in Washington D.C. are so concerned about 1.3 million people losing their unemployment benefits?
All is well…