December jobs report: Unemployment rate at 9.4%

New York CNN reports that the unemployment rate is at 9.4%, which is the lowest rate since May 2009. Even though this sounds good, it is actually bad for the economy even though 103,000 jobs were added in December of 2010. According to John Sivia, Wells Fargo’s economic chief, he suggested that this is either good or bad. A lower unemployment rate is a mixed blessing, but it is bad for the long term.

Who’s fault is it, the people or the businesses? According to CNN, it is the people. Facts are, about 260,000 adults are discouraged from seeking employment!

Fact show that the economy has improved greatly in 2010 with 1.1 million jobs added, which has been proven the best since 2007.