The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on March 08, 2013, 02:15:29 pm
-
http://www.breitbart.com/Big-Government/2013/03/08/sequester-fail-economy-adds-236k-jobs-in-february (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.
-
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
-
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?