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Unemployment Holds Steady Despite Fiscal Cliff Threat

The unemployment rate remained steady at 7.8 percent in December despite the looming threat of going over the fiscal cliff.


The nation's unemployment rate didn't rise in December, even though the overwhelming threat of going over the fiscal cliff loomed large throughout the month.

Unemployment remained steady at 7.8 percent, according to data released Friday, the Hartford Courant reported, and payroll grew by 155,000, slightly less than the 161,000 jobs created in November. 

The report predicts a 2 percent growth in the economy for 2013, which is not seen by experts as enough to make a significant dent in the recession.

That rate of growth will keep the country "just muddling through," Tom di Galoma, managing director at Navigate Advisors in Stamford told The Courant.

It could have been worse. Had Congress not come to a last-minute deal to avoid the fiscal cliff, taxes would have rose for almost everyone and thousands of people could have lost their unemployment benefits.

In Connecticut, the unemployment rate for November (the most current figures available) was 8.8 percent and, in Hamden, it was 8.4 percent

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while receiving Staples Rewards does help defray the cost of supplies for the teachers, they areRead More STILL putting cash out of their own pockets! This should not be. But Kudos to the teachers who put their students above their own financial situation. The Town and parents should be footing the costs, not the teachers.
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Casey Edwards Arenberg: My whole family sees Dr. Robert Henry, he's located on Whitney/Todd Street.Read More He's a great guy!
Kathleen Ramunni (Editor) May 16, 2013 at 09:10 pm
Cyndi Consoli: Dr. Kumar at Family Practice and Internal Medicine also takes walk-ins if you don'tRead More have an appt. open 8am-8pm M-F, Sat til 4, and Sunday til noon. 2543 Dixwell Ave. Hamden. In that building is also Quest lab, Whitney Imaging for x-rays, sleep disorder center, physical therapy, GI, heart and some other specialists. One stop shopping.
Author Jim Sterba Speaking May 22
cheryl May 16, 2013 at 03:49 pm
UN AGENDA 21- SUSTAINABLE DEVELOPMENT- HERE IT IS FOKES.
Willow Ann Sirch May 15, 2013 at 11:45 am
This event is sponsored by the Hamden Land Conservation Trust. Jim's talk will take place followingRead More a (short) annual meeting.