Author Topic: Sequester Fail: Economy Adds 236k Jobs in February  (Read 632 times)

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Online mystery-ak

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Sequester Fail: Economy Adds 236k Jobs in February
« on: March 08, 2013, 09:15:29 AM »
http://www.breitbart.com/Big-Government/2013/03/08/sequester-fail-economy-adds-236k-jobs-in-february

 by Mike Flynn 8 Mar 2013, 6:00 AM PDT

The Labor Department reported this morning that non-farm payrolls rose by 236,000 in February. The unemployment rate edged lower to 7.7% as the number of people in the labor force dipped slightly. January job gains were revised downward by 40k jobs, but December's job growth was revised up.

Business services, construction and health care led February's job growth. Despite the bump in construction, unemployment in that industry remains at 15.8%.

The hiring boost in February came amid doomsday talk about the impact of across-the-board federal spending cuts. The warnings had little effect on employers, however, as hiring expanded by more than the monthly average last year. February's gain, while modest compared to other recoveries, it is just at the level to accommodate population growth.

Talk of broad federal spending cuts did not spook the economy. In fact, employers picked up their pace of hiring. The spending cuts, however blunt their implementation, may signal finally that Washington will get its fiscal house in order. The veil of uncertainty may be lifting.

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Offline SouthTexas

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Re: Sequester Fail: Economy Adds 236k Jobs in February
« Reply #1 on: March 08, 2013, 09:40:59 AM »
 Feb.2012     Dec.2012      Jan. 2013              Feb.2013       Change from:Jan.2013-Feb.2013
Civilian noninstitutional population
242,435        244,350    244,663                   244,828        165

Civilian labor force
154,825        155,511    155,654                   155,524        -130

Participation rate
63.9           63.6               63.6                      63.5         -0.1

Employed
142,019        143,305       143,322              143,492          170

Employment-population ratio
58.6            58.6        58.6                        58.6         0.0

Unemployed
12,806           12,206      12,332                     12,032         -300

Unemployment rate
8.3               7.8                  7.9                         7.7          -0.2

Not in labor force
87,611            88,839       89,008                       89,304            296

Offline SouthTexas

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Re: Sequester Fail: Economy Adds 236k Jobs in February
« Reply #2 on: March 08, 2013, 09:48:05 AM »
Rick Santelli tried this morning on CNBC but to no avail.  When you change the participation rate, 63.6 to 63.5, everything will come up roses.

The low info voters will see this as great news and wonderful production by the messiah, even though they still cannot get a job. 

The reality?  How can you add 236k jobs when you lost 296k workers in the same month?


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