Economy Created 200,000 Jobs In December, Unemployment Rate Falls To 8.5 Percent

According to the latest data from the Bureau of Labor Statistics, the economy created 200,000 jobs last month, and the unemployment rate fell to 8.5 percent. The private sector added 212,000 jobs, while the public sector lost 12,000. The wider U-6 measure of underemployment fell to 15.2 percent, as did the percentage of unemployed workers who have been out of work for six months or more, which stands at 42.5 percent.