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Patrick J. O'Keefe Discusses December Jobs Report in Media


1/9/15

On Friday, January 9, the Bureau of Labor Statistics (BLS) released data on labor market conditions in the United States through December 2014. The Department of Labor noted that 2014 was the best year of job growth in the U.S. since 1999, with more than 2.95 million jobs created. The unemployment rate fell to 5.6% in December, with 252,000 jobs created.

Patrick J. O'Keefe, Director of Economic Research, spoke with several media outlets regarding the report.

Pat was featured in two MarketWatch articles prior to the release of the report: “5 blue collar jobs that pay $100,000 a year" and “Job cuts in 2014 were at lowest level since 1997.” In the latter, Pat noted, “In the 11 months through November, the economy had added more jobs than in any calendar year since 1999." Earlier this week, he was also featured in MarketWatch's "5 Ways You'll Be Better Off in 2015" and "5 Ways You'll Be Worse off in 2015."

On CNBC Worldwide Exchange, Pat discussed his expectations, surmising that it was a very good year for jobs but the labor force participation rate has remained basically flat.
 
On This Morning: America's First News with Gordon Deal, Paid said, "We came out of 2014 with very good momentum, particularly in the labor market. The data have been surprisingly strong; in fact I think jobs growth generally has been gaining momentum over the course of the second half of the year." Pat also noted something he found interesting, "In the first 11 months of 2014, we added more jobs than in any calendar year going back to 1999, that's how good a year it was."
 
On The Bloomberg Advantage, when asked if he was pleased with the report, Pat stated, "When I looked at the report what it brought to mind were those tragedy/comedy masks that we see in theatres, one smiling the other frowning."
 
Pat also joined Sirius XM Radio's Knowledge@Wharton, commenting that this month's is a "mixed report," and adding, "What we have seen on the jobs side is a recovery which has been gaining momentum."
 
In USA Today, Pat stated, "This is a self-sustaining job expansion."
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