The nation's labor market worsened in December to the weakest level since the shock that followed Hurricane Katrina, as the problems in housing and mortgages took a bite out of job opportunities.Employers added far fewer jobs in the month than had been forecast, while the unemployment rate shot up to 5 percent, which was a two-year high, according to a government report Friday...
"Yes, job creation is slowing, but 5 percent unemployment does not a recession make," said Rich Yamarone, director of economic research at Argus Research.
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Remember that while unemployment is rising, the unemployment rate is still in the range of full employment.
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