The U.S. Department of Labor has released its monthly employment report for December, finding that the national unemployment rate fell to 9.4 percent - down from 9.8 percent in November. The study also noted the addition of 103,000 jobs last month, but that figure is disappointingly lower than the 145,000 anticipated by economists.
The shortfall likely suggests that the economy is improving at a much slower rate than many experts had hoped, trumping a number of optimistic reports released earlier this week.
"A very disappointing number that reinforces the idea that we're in for a long, slow jobless recovery," Brian Dolan, chief strategist at Forex.com, told Reuters. "The Fed simply cannot relent until they see unemployment at least below 9 percent."
Despite the somewhat disappointing report, entrepreneurs seeking incorporation in New York City may be encouraged by the city's relatively strong emergence from the economy, with a booming tech industry and startup scene.
There is also this week's slew of economic reports, which found gains in manufacturing activity, small business employment and borrowing and a record-breaking holiday shopping season - all of which will help boost small business owners' confidence in the economy.
Tags : incorporation news, ny, small business management
Posted: Jan 7th, 2011