Well, some new figures out, and it looks like the economy
created 120,000 new jobs in January. One can be sure this will be widely touted as the end of the jobless recovery by the White House.
Employers added new jobs last month at a pace not seen in three years. The last time payrolls expanded more than 112,000 was in December 2000, when companies added 124,000 positions.
On the other hand, job cuts topped 117,000 in January. Why are these figures reported separately?
Planned job cuts in January were 26 percent higher than in December due to increases in offshore outsourcing and to mergers and acquisitions that have made some positions redundant, global outplacement firm Challenger, Gray & Christmas, Inc., reported on Tuesday.
Post-holiday job cuts reached 117,556 in January, surpassing the 100,000 threshold for the first time since last October.
I'm not an economist, but I can do simple math, and if I read these two pieces of news correctly, that means we only had a net job gain of 3,000 in January.
Am I missing something here?