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Jobs Stall Out in 2012-Q4

Pistol Wrote: Jan 13, 2013 8:12 AM
They are out there cedar rebellion, its just more efficient to hire an old timer with a proven work record than take an expensive 50/50 chance on a teen. Or any entry level applicant, for that matter. And yes, the minimum wage hurts entry level employees. What it actually sets as a minimum is the point at which automation becomes cheaper than hiring a person.

According to the December 2012 employment situation report, job growth stalled out in the final three months of 2012, as the number of employed Americans (143,305,000) was nearly unchanged from the levels recorded in the previous two months.

That outcome is consistent with our earlier observation that the fourth quarter of 2012 would likely see a significant deceleration in economic activity following the comparatively robust pace of growth recorded in the third quarter.

Breaking down the employment situation by age groups, we find that the number of employed...