Morning Joe   |  January 10, 2014

74k jobs created in Dec.; unemployment at 6.7

CNBC's Michelle Caruso-Cabrera joins Morning Joe to deliver the December 2013 jobs report. Economists predicted 200k jobs would be added to the U.S. economy, yet only 74k were created. The unemployment rate fell to 6.7 percent.

Share This:

This content comes from Closed Captioning that was broadcast along with this program.

>>> the new monthly jobs reports just crossed. michelle?

>> ugly number . the number of jobs created, 74,000 and the expectation was 200,000. there was talk that maybe the cold weather kept folks at home either not looking or construction jobs, for example.

>> that's awful.

>> that's one of the lowest numbers we have seen in years.

>> since january 2011 . very, very bad.

>> our economy is pretty large. could cold weather really knock it down that low?

>> when i look at construction jobs declining, that mighting ing is suggest it, but that is in part because people appear to be withdrawing from the labor force and giving up looking for a job. that's why that number got smaller.

>> as you were saying that from the drop from 7 to 6.7%.

>> that's not good. it's a big drop with the numbers being so poor. every month we go through this. the other thing is that it's going drop as more people fallout of the workforce. they give up looking and then you stop getting counted. normally everybody said it's going down a little bit and that's going to be a good thing at some point. with this three percentage point stop is too big for that number. i'm curious about your thoughts. last month everybody thought the shut down was going to impact the jobs sdmb number. i feel like there has to be another explanation other than the cold weather .

>> yeah. there might be something else.

>> there might be something else going on. it's too different from the trend.

>> i'm curious because there were declined and we have been seeing that steadily. they have balanced a lot of budget requirements within their constitution. they don't have the money. they have layoffs. the gdp number came out and it was smoking. it seems weird that we have another data hence the 200,000 jobs created.

>> terrible news.

>> yeah. thanks, michelle. this is not just a number. we can put a human face to long-term unemployment and the community helping people reset their futures. i lost my job