December Jobs Report: 2015 Begins as 2014 Ended

So the numbers rolled in a bit better than had been expected, with 252,000 net new jobs (240,000 had been forecast) and the official unemployment rate dropping to 5.6%. October and November new net job estimates were revised upward by a total of 50,000. On the other hand, the labor force participation rate actually dropped slightly.

We’ll see within the hour whether Republicans react to the jobs report with the usual sour grapes, or instead follow Mitch McConnell’s new practice of taking credit based on the idea that investors and consumers are celebrating Republican congressional gains by cutting loose with stalled spending.

Ed Kilgore

Ed Kilgore, a Monthly contributing editor, is a columnist for the Daily Intelligencer, New York magazine’s politics blog, and the managing editor for the Democratic Strategist.