WASHINGTON, DC - According to the December 2012 Employment Situation report released today by the Labor Department, the national unemployment rate held steady at 7.8% last month.
The report says private sector businesses added 168,000 jobs in December while total non-farm payroll employment rose by 155,000 jobs.
The economy has now added private sector jobs for 34 straight months, according to Secretary of Labor Hilda L. Solis.
Solis issued the following statement on the report:
“December’s report marks 34 straight months of private sector job growth, which have added close to 5.8 million jobs. For nearly three years, steady gains have occurred across different sectors of the economy, and December finishes a strong year of consistent growth with average increases of about 160,000 private sector jobs per month in 2012.
“The economy continued to show signs of strength and resilience throughout a month of fiscal uncertainty. This week’s bipartisan agreement extending tax cuts to protect 98 percent of families and 97 percent of small businesses from any income tax increase is an important step in the right direction, as is the extension of crucial Unemployment Insurance benefits that serve as a necessary lifeline for millions of Americans still struggling to find employment, as well as generate $2 in economic activity for each dollar spent.
“There is more work to do to ensure that the steady growth experienced in 2012 continues into the new year. Now is not the time to slow this recovery by failing to address our fiscal challenges and introducing further uncertainty into the economy. As we move forward to address our ongoing fiscal challenges, both spending cuts and continuing to ask the wealthy to do a little more will be part of a balanced approach.We must continue to grow our economy, create jobs and strengthen our middle class by making investments in training, education and infrastructure.”
