US payrolls rose 155,000, data
According to the latest figures released by the government, the total nonfarm payrolls in the US rose 155,000 during the month of December.
The Labor Department also said that the unemployment rate stood at 7.8 percent during the month. The US economy added about the same number of jobs during the month of December as in November but showed signs of stabilization even as the lawmakers remained engaged in discussions to avoid the fiscal cliff situation during December.
The department also said that that total unemployment rate declined 0.7 of a percentage point overall during the previous 12 months. The US senators have finally passed a legislation to avoid the automatic changes in the taxes and spending in the US economy.
The labor market added 155,000 jobs during the month, which is mostly in line with the 153,000 average of the first 11 months of the year, according to an analyst. The data showed that there are about 12.2 million unemployed people in the US. The rate for November was revised up from an initially reported 7.7 percent.
Experts say that the US economy is on the path of recover as the housing market is in recovery and credit growth is rising in the world’s largest economy.