Word on the Street: Economy

THE BRONX - Despite the busy holiday season, U.S. employees only added 74,000 jobs in December, below the average gain of 214,000 jobs in recent months, according to the December labor report.

The drop occurred in part because more Americans stopped looking for work.

Cold weather may have also slowed hiring, as construction firms cut 16,000 jobs last month.

News 12 asked residents what they thought about the job market in the borough.

One resident said she hopes that things are getting better because a lot of people are in need, especially parents and married couples.

Another resident said he believes the economy is having problems mainly because of the Federal Reserve Bank. He believes privately owned institutions are taking people’s money and the majority of tax dollars that are spent goes to the Federal Reserve Bank, which he claims squanders it away.

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