Economy Adds Only 74,000 Jobs in December
Obama has crippled the economy.
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The economy created only 74,000 jobs in December, well below the 2013 average of 188,000. The Labor Department report indicates stronger growth for the coming year predicted by many economists may not materialize.
Growth slipped to 1.9 percent last year, thanks to the $200 billion January tax increase and sequestration spending cuts; this is simply not enough to bring unemployment down to an acceptable level, support strong wage gains, and reduce income inequality.
This report indicates that neither the economy nor the job market have shifted into high gear as the White House preaches and private economists who flack for the Administration have claimed.
Unemployment dropped to 6.7 percent because 525,000 additional unemployed adults were discouraged and did not seek a job. Also, many prime working-age adults remain stuck in low-wage, part-time jobs with few or no benefits.