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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 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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Bob May 22, 2013 at 02:41 pm
1st of all - LOWER income community's " certainly Is not referring to places such as PortlandRead More or East Hampton so I'm confused why the writer implies it does since clearly it doesn't ! the other comment the writer chooses to include is "society lets kids down" referring to not allocating enough $$$ for supplies or education ..... THIS is JUST CRAZY !!!! on a Larger Level the USA throws more $$ at education thinking it will make a difference when it will not - and the results show it... 2ndly - has anyone that agrees with this Assertion actually ever looked at the Budgets these school systems receive ? it's clear that the majority if our tax $ goes to educators and the system - and it's mainly comes down to a few simple things when we talk about why teachers are taking cash outta their own pockets to buy supplies. it has NOTHING to do with not having the $$ it comes down to - the educators and Dept Leads NOT planning correctly. if they had planned correctly and put it in their HUGE inflated budgets they wouldn't have to go buy things .... Also it cones down to the administrators not working with the boards to put a system in place that if for some reason - something is needed - they have an Avenue To obtain it or get reimbursed for it Easily. So we really need To put a stop to continuing to put a slant on these types of stories - and just start stating the facts. the last thing I find VERY strange is that Nowhere the PTA is mentioned and What a great resource they are !!! The majority of the time these groups have plenty of $$$ ON HAND that they actually need to "" THINK of "" year after year what to do with it all...... they are great groups that really add to the overall assistance to the depts within the schools. last year alone for an example is that our PTO purchased over 1200 dollars in tee shirts for the 1st graders to wear at an Assembly as well as Utilizing their funds to purchase a $800 Color laser printer. So let's all take a step back and Realize Yes maybe our teachers are out there purchasing supplies however It is not due to a lack of funds with in the school systems budgets
Frank April 2, 2013 at 11:02 pm
China will take out NK before we will. Not the US with this Administration.
Big K April 2, 2013 at 07:50 pm
In North Korea we have the Same old S - - T as we had with his Father and Grandfather. If they wantRead More to destroy their country, Bring it on! He is nothing but a BIG MOUTH. I feel sorry for the N. Korean people to have such a jerk as this dictator. It is too bad they don't have a good democracy.
Big K April 2, 2013 at 07:49 pm
In North Korea we have the Same ole S - - T as we had with his Father and Grandfather. If they wantRead More to distroy their country, Bring it on! He is nothing but a BIG MOUTH. I feel sory for the N. Korean people to have such a jerk as this dicttaor. it is too bad they don't have a good democrocy