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Money

Economy unexpectedly loses jobs in December

The U.S. economy shed 140,000 jobs in December. That's the first monthly job loss in eight months. Economists had expected the economy to pick up a very modest 50,000 jobs in the month. The official unemployment rate held at 6.7%.

New claims for unemployment drop to 787,000–but nobody knows what that means

Initial claims for unemployment in regular state programs fell to 787,000 for the week ended on January 2. Economists were looking for 800,000 initial claims. New claims for the prior week were revised lower to 790,000. To keep the "improvement" in context, the worst week in the Great Recession saw new claims at 655,000.

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