Business-Coworkers-Serious-Woman-ManRecent unemployment data appears encouraging on the surface, but when you look at underlying labor data, there is much more than meets the eye, and the news is not good. According to Bloomberg News and other media, the unemployment rate dipped to 5.6 percent in December, which “capped the best year for the labor market since 1999 and reinforced the U.S. role as the global economy’s standout performer.” In December, said the U.S. Labor Department, the economy generated 252,000 jobs, which followed the creation of 353,000 jobs in November, bringing the jobless rate to its lowest level since 2008. “We have continued, solid job growth,” Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, who projected a 240,000 gain, told the business newswire. “It shows really solid momentum in U.S. growth. There are not a lot of places in the world where we see that these days.” In all of 2014, about 3 million more Americans found work, the largest gain in 15 years and one sign that companies believe U.S. demand is going to continue, even as markets overseas are struggling. More