200,000 jobs were added to the U.S. economy in December pushing the unemployment rate to 8.5 percent to reach the lowest rate in almost three years.
The 200,000 increase followed a revised 100,000 rise in November that was smaller than first estimated, Labor Department figures showed in Washington.
“The tide is beginning to come back in,†James Glassman, senior economist at JP Morgan Chase & Co. in New York, said in a radio interview. “We’ve got a long way to go. This is all positive, though, that we’re actually moving forward, and that’s an important trend.â€Â
Source: Bloomberg
