CNN explains why unemployment rate going UP is a GOOD THING, says new jobs report GREAT FINISH to the year

by The Right Scoop

A new jobs report has come out today for December and it’s been getting all sorts of great reaction, including from Trump himself:

The big highlights in the jobs report are the following, via CNBC:

  • Nonfarm payrolls surged by 312,000 in December. Economists surveyed by Dow Jones had been expecting payroll growth of just 176,000.
  • Wages jumped 3.2 percent from a year ago and 0.4 percent over the previous month. The year-over-year increase is tied with October for the best since April 2009.
  • The unemployment rate rose to 3.9 percent as more workers joined the labor force.

Notice that the unemployment rate went up to 3.9 percent, despite the big job numbers. You’d think that’s a bad thing, but CNN’s Christine Romans explains why it happened and why it’s really a great sign for the economy:

Romans points out that the reason the unemployment numbers went up is because 400k people who were outside of the labor market decided to look for work. Which means they were then counted among the unemployed and that cause the unemployment rate to go from 3.7 to 3.9%.

There’s a few other reports you can watch if you want:

Read CNBC’s analysis for even more…


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