Want a job? Ask Obama

By Jessica Dickler, CNNMoney.com staff writer


NEW YORK (CNNMoney.com) -- As economists and investors reel from a surprisingly weak jobs number, there are 3,300 people that may actually be cheering December's report.

That's the number of employees that were added to the federal government's payroll last month.

As job losses continued in construction, manufacturing, retail, leisure and hospitality, as well as at the state and local government level, the Federal government was one of the few areas that posted a job gain.

The federal government, excluding the U.S. Postal Service, has notched an increase in jobs for seven consecutive months bringing December's total to 2,167,000, up from 2,163,700 in November.

Alternatively, the cash-strapped Postal Service has slashed jobs, reduced overtime hours and proposed scrapping its Saturday delivery to cut costs but remains mired in debt.

Lawrence Mishel, president of the Economic Policy Institute, attributes the modest increase in jobs with the federal government to the number of stimulus programs and packages aimed at fighting the recession along with ramped up efforts directed at the war in Afghanistan, which has had positive implications for employment at the Pentagon and in other areas of the country.

But a rise in employment as a result of those efforts is still a "dismal silver lining" to the overall jobs picture, cautioned Robert Brusca, chief economist at Fact and Opinion Economics.

"It's kind of like saying more people are dying so we have to hire more gravediggers," he said.

Overall, the Labor Department reported a loss of 85,000 jobs in December -- much worse than expected. Economists surveyed by Briefing.com had expected no net gain or loss in payrolls in December. The economy has lost 7.2 million jobs since the start of 2008. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.