The US Labor Department says the US economy added 252,000 jobs in December. That lowered the unemployment rate to 5.6%. Over 2.9 million jobs were added to the economy in 2014.
Coca-Cola plans to layoff about 1,800 employees globally in the next few months. The move is a part of the beverage giant's effort to cut $3 billion in costs. The world' largest soft drink company employs about 130,000 workers worldwide. (CNBC)
JC Penny gave another death shudder on Thursday announcing it will close about 40 stores in 2015. About 2,250 jobs will be lost. The only Oregon store closing will be in North Bend. (Huffington Post)
Despite the improving economy and rising financial markets it turned out to be a lousy year for private pension funds. After gradual progress rebuilding the funds they need to pay retirees, the average private pension fund held about 80% of what it needs to cover those payments. That's down from 89% at the end of 2013 and represents an overall deficit among large corporate plans of about $343 billion, nearly double the shortfall a year earlier. (Reuters)
Join Tyler and me on Saturday at 10am for Financial Focus when our guest will be Don Klippenes of Health Insurance Strategies.