Los Angeles Business Journal

Strong Jobs Report Trumps Decline in GDP

Friday, February 1, 2013

So is the economy growing at a good clip or shrinking? The answer may lie somewhere in between. Just two days after Commerce Department said that the U.S. economy shrank slightly in the last quarter of 2012, the Labor Department announced today that according to revised numbers, that very same economy produced jobs at a rapid clip in November and December, with the momentum carrying into January, BusinessWeek and the Wall Street Journal report. Manufacturing also grew more last month than forecast, Bloomberg News reports.