WASHINGTON — December payrolls plunged another 524,000 and October-November jobs revisions totaled a 154,000 decline. Confirming the poor showing, the civilian unemployment rate jumped 0.4 point to 7.2%, a high since January 1993. The rising unemployment rate came despite a shrinking labor force.
Unemployment rate seasonals were revised, raising the rate for the autumn. But the trend in unemployment remains higher. Revised payroll seasonals and benchmarks are due next month.