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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 6.7 percent

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Steven DeVaux January 7, 2013 at 11:31 am
Hmmm...let's see what happens when they stop spending. So far the only action has been to raise the social security tax back to 2010 levels and raise the taxes on the highest wage earners. I think we give this more time before victory is declared over unemployment.
Note Article
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John Hawley June 18, 2013 at 06:21 pm
1. Why would you put sidewalks in place until the plan of development is fleshed out and working?Read More Sidewalks are normally one of the last things to go in. 2. Go see the Budget for the Brookfield Schools...that will give you the answer
Lisa Foltz Allan June 18, 2013 at 06:37 pm
Please contact me on FB before attempting to "capture" Norma. There are some veryRead More important things you should know/do before trying to trap a dog
Carol Chapman June 18, 2013 at 10:01 pm
Please contact Laura Dorr on FB. She's new at this, apparently, and is planning a trap for Norma.
Carol Chapman June 19, 2013 at 11:29 am
UPDATE on Norma, lost dog in Newtown: Carolee Mason (Newtown's Animal Control Officer) is watchingRead More her from a distance at the moment, armed with catfood to tempt her closer. The foster mom is on her way there again, this time with chicken, and Laura is on her way with hamburger. Problem is, this dog is VERY shy, skittish and quick to run away.
Jaimie Cura (Editor) June 14, 2013 at 09:06 pm
Thanks Gillian, for sharing these pictures and thanks Firefighter Tim and the rest of the fireRead More department for sharing fire safety tips with local students!