New employment numbers released this morning by the Bureau of Labor Statistics show the smallest increase in job growth since August 2003, over four years ago, and the highest unemployment rate in over two years. The increase in unemployment to 5.0 percent in December, paired with a meager 18,000 jobs added to the economy, make 2007 the weakest year for job growth in the past 4 years. The monthly employment figures are the latest sign of a weakening economy, and mark the end of a year of relatively gloomy news for workers.
Read more here.
The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.
Senior Fellow; Senior Adviser, American Worker Project