Posted on 03/06/2015 6:51:40 AM PST by SeekAndFind
The U.S. economy added 295,000 jobs in the February, according to the Labor Department's monthly survey and the unemployment rate dropped to 5.5 percent. The latest strong data beat expectations and follows on the heels of a robust jump for the previous month — a sign that the economy is finally picking up steam.
Expectations among economists had been for the economy to add another 240,000 jobs from last month and for the unemployment rate to notch back down to 5.6 percent, where it stood for December. The slight increase in the rate last month was attributed to strong growth in the labor force.
As NPR's John Ydstie reported this morning ahead of the release by the department's Bureau of Labor Statistics, the report for January "was stellar on almost every count. It revealed a monthly average for job growth of 336,000 over the previous 3 months, and it showed strong wage gains after years of disappointing growth."
The Labor Department more jobs were added in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing.
The latest report comes as the Federal Reserve has signaled that it is likely to raise interest rates, possibly as soon as June, based on the generally more robust economy and concerns about inflation pressures.
Reuters reports from London: "The dollar hit an 11-year high against major currencies on Friday as investors bet the monthly U.S. jobs report would increase the chances of rate hikes, even as the European Central Bank embarks on a 1 trillion euro bond-buying campaign."
That’s gonna help those 8000 oil field jobs, and those THOUSANDS Target is laying off! :0)
Don’t forget the 14,000 RBS is planning to layoff ( a lot of them in the USA ).
SEE HERE:
So the rise of people not in the labor force is not an obama thing according to that chart.
How many of these are full time jobs? Sounds like waiting tables and flipping burgers part-time. Inquiring minds want those stats, which you will never hear on CNBC, the ObamaBots favorite business channel.
Yes....you are correct. I was just illustrating the two most recent examples my old fart mind could retain in short term memory. There are probably dozens of examples to illustrate that this unemployment tracking the government puts out is bullshit.
I thought all those Christmas temps would be laid off in January. Something smells fishy.
We’ll have to wait for a Republican President to be sworn in to get real economic numbers.
Seems to me that if you only count those going in and not those who are still out you have an incorrect number.
We have 400 million in the country, 440 million counting illegals. 92 million is almost 23% unemployment.
Unfortunately, if there is a Repub. president and if he did put out real numbers, the drive-by media will say, ‘Look how bad things are now under republicans!”
Figures lie and liars figure, so only our Creator knows the truth. That said, demographic trends probably would skew the numbers even if reported honestly: i.e., the rise of women in the work force, the undocumented, baby boomer retirees.
Did they factor in all the recent energy sector job losses? So good paying energy work is being replaced by the minimum wage work of burger flippers and wally worlders, but I guess that explains the obsession with ‘living wages’.
"Figures don't lie, but liars figure."
Oh here it is:
“...a sign that the economy is finally picking up steam.”
Really. They mean it this time.
“. There are probably dozens of examples to illustrate that this unemployment tracking the government puts out is bullshit.”
THIS government is nothing but a criminal enterprise.
And when will this number be corrected downward? Two weeks from now on C88 in the NYTimes.
Never mind...California just hired 500 people to help cope with the backlog of unemployment claims in the tarnished state.
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