January 8, 2010 11:08 PM

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US cut 85, 000 jobs in December

In the United States employers unexpectedly cut 85,000 jobs in December, but the unemployment rate held steady at 10 per cent. Official figures have shown the number of job losses was surprising, particularly after November's figures had been revised. The US Labor Department had initially estimated that 11,000 jobs were cut in November, but now says that the economy had in fact added 4,000 jobs. Since the recession began in 2007, 7.2 million jobs have been lost in the US. In 2009 alone, the economy lost 4.2 million jobs. Analysts were surprised by the latest data.<br/>

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