The February Jobs Report: Not Bad
The American Action Forum reviews the February jobs report. Overall, America seems to be moving in the right direction, as the unemployment rate dropped to 7.7% (as compared to January’s rate of 7.9%). In addition, both employment hours and weekly earnings rose. The private sector also added 246,000 jobs.
There are still long-term issues regarding joblessness, and wages. The job growth trajectory still points to a painfully slow recovery.
Let’s hope the February trends are not simply a fluke, but with the recent sequestration cuts to military and federal grant spending, I highly doubt March will look this positive.