There is so much bad news in the jobs report released today that even the administration is going to have a hard time finding the pony in this manure pile.Don Lee of the LA Times: The U.S. economy shed a larger-than-expected 85,000 jobs in December, a disappointing finish to a year that saw more than 4 million jobs disappear, according to a government report today.The unemployment rate last month held steady at 10% last month, but only because more people dropped out of the workforce.Economists were expecting the nation's total payrolls in December to show virtually no change from November, when the economy added a net 4,000 jobs, according to revised figures released today by the Bureau of Labor Statistics. Previously, the government said employers cut 11,000 jobs in November.The difference is statistically insignificant. More important is the trend line, and the net job losses in December suggest that a rebound in hiring has yet to materialize despite a recovery in the broader...(Read Full Post)