The Employment Situation: December 2001 — 2002-01-04

Employment continued to decline in December, and the unemployment rate edged up to 5.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Nonfarm payroll employment decreased by 124,000 over the month and by 1.1 million over the last 4 months of 2001. In December, job losses continued in manufacturing, transportation, and trade; these losses were partially offset by employment gains in services and government. The number of unemployed persons continued to rise in December, reaching 8.3 million (after seasonal adjustment). The unemployment rate was up by 0.2 percentage point to 5.8 percent. Over the year, the number of unemployed persons increased by 2.6 million and the unemployment rate rose by 1.8 percentage points. (See table A-1.) The unemployment rate for adult women increased to 5.2 percent in December.