[TheRealVille]

http://www.kansascity.com/2013/03/08/410...dence.html

A surprisingly strong jobs report for February sparked renewed faith in the economic recovery despite looming federal spending cuts and the recent increase in payroll taxes and gasoline prices.

Jobs report shows 236,000 more jobs, decrease in unemployment
Smithfield Foods should split into three businesses, shareholder says
H&R Block shares gain more than 8 percent in early Friday trading
Feds end probe into Ford SUVs rolling away
Read more Business

Unemployment fell to 7.7 percent last month, from 7.9 percent in January.

It was the lowest rate of joblessness since December 2008, when the financial crisis and recession first pushed unemployment above 7 percent.

February produced 236,000 more jobs than were lost, the report said, higher than many optimistic forecasts had expected.

Read more here: http://www.kansascity.com/2013/03/08/410...rylink=cpy

[TheRealVille]

Job growth surged last month as auto makers, builders and retailers pushed the unemployment rate to a four-year low, defying concerns that budget battles in Washington would harm the economic expansion.

Employment rose 236,000 last month after a revised 119,000 gain in January that was smaller than first estimated, Labor Department figures showed today in Washington. The median forecast of 90 economists surveyed by Bloomberg projected an advance of 165,000. The jobless rate dropped to 7.7 percent, the lowest since December 2008, from 7.9 percent.
“It really should cause people to rethink their weak first-half growth estimates,” said Drew Matus, deputy U.S. chief economist at UBS Securities LLC in Stamford, Connecticut, who correctly forecast the unemployment rate. “People counted out the U.S. consumer a little too easily on the payroll-tax increases.”
Stocks, the dollar and Treasury yields all rose on signs the world’s largest economy is gaining strength in the face of federal budget cuts and higher payroll taxes. The report may fuel debate among Federal Reserve policy makers considering how long to maintain record stimulus to boost growth and employment.
Matus said the report is likely to convince Fed policy makers “that they’re doing exactly the right thing by stimulating the economy.”

http://www.bloomberg.com/news/2013-03-08...-7-7-.html

[WideMiddle03]

http://hotair.com/archives/2013/03/08/fe...obs-added/

CNN Money adds some analysis:

The unemployment rate fell partly because more people said they got jobs, but also because 130,000 people dropped out of the labor force. …

Private sector employers added 246,000 jobs. Employers have been adding jobs for three straight years, but it’s happening too gradually for the labor market to return to where it was at the beginning of the Great Recession. Overall, the U.S. economy lost 8.8 million jobs in the financial crisis, and has only gained back 5.6 million of those jobs since the labor market’s height in January 2008.....


Update: As James Pethokoukis puts it, getting excited about numbers like these is just embracing the weaksauce New Normal economy. Ah, the soothing balm of lowered expectations:

1. In January 2009, Team Obama economists predicted that the unemployment rate by 2013 would be 5.1% (and the economy would be booming at 4% annual growth). Heck, even without the stimulus, they thought the jobless rate would be down to 5.5%. That’s a big miss.

2. The labor force participation rate fell again as potential workers stopped looking for work. If the LFP rate was just where it was a year ago, in February 2012, the official unemployment rate would 8.3%. And if the LFP rate was where it was in January 2009, the unemployment rate would be 10.8%. Does the the aging of the US workforce make that 2009 number less relevant? Probably. But have demographics changed that radically over the past 12 months? Doubtful. …

6. The employment-population ratio is exactly where it was a year ago, at an almost rock-bottom 58.6%.

[TheRealVille]

http://hotair.com/archives/2013/03/08/fe...obs-added/

CNN Money adds some analysis:

The unemployment rate fell partly because more people said they got jobs, but also because 130,000 people dropped out of the labor force. …

Private sector employers added 246,000 jobs. Employers have been adding jobs for three straight years, but it’s happening too gradually for the labor market to return to where it was at the beginning of the Great Recession. Overall, the U.S. economy lost 8.8 million jobs in the financial crisis, and has only gained back 5.6 million of those jobs since the labor market’s height in January 2008.....


Update: As James Pethokoukis puts it, getting excited about numbers like these is just embracing the weaksauce New Normal economy. Ah, the soothing balm of lowered expectations:

1. In January 2009, Team Obama economists predicted that the unemployment rate by 2013 would be 5.1% (and the economy would be booming at 4% annual growth). Heck, even without the stimulus, they thought the jobless rate would be down to 5.5%. That’s a big miss.

2. The labor force participation rate fell again as potential workers stopped looking for work. If the LFP rate was just where it was a year ago, in February 2012, the official unemployment rate would 8.3%. And if the LFP rate was where it was in January 2009, the unemployment rate would be 10.8%. Does the the aging of the US workforce make that 2009 number less relevant? Probably. But have demographics changed that radically over the past 12 months? Doubtful. …

6. The employment-population ratio is exactly where it was a year ago, at an almost rock-bottom 58.6%.

No matter what good news happens as long as Obama is President, the right wingers won't acknowledge it. :biglmao:

[WideRight05]

:biglmao:

[RunItUpTheGut]

^
The parts about Obamas promises are true though.
Hes no where close to acheiving his unrealistic goals.

[TheRealVille]

Hold on, the black man will be out of office in 3 years. nicker:

[WideMiddle03]

No matter what good news happens as long as Obama is President, the right wingers won't acknowledge it. :biglmao:

where wuz you're post you had about the credability of hotair
you changed you're post like 6 times :biglmao:

[WideMiddle03]

Hold on, the black man will be out of office in 3 years. nicker:

the chare is already empty
we have no leadership in office

[TheRealVille]

where wuz you're post you had about the credability of hotair
you changed you're post like 6 times :biglmao:

No use talking credibility of right wing hack sites. You know who they are.

[TheRealThing]

http://hotair.com/archives/2013/03/08/fe...obs-added/

CNN Money adds some analysis:

The unemployment rate fell partly because more people said they got jobs, but also because 130,000 people dropped out of the labor force. …

Private sector employers added 246,000 jobs. Employers have been adding jobs for three straight years, but it’s happening too gradually for the labor market to return to where it was at the beginning of the Great Recession. Overall, the U.S. economy lost 8.8 million jobs in the financial crisis, and has only gained back 5.6 million of those jobs since the labor market’s height in January 2008.....


Update: As James Pethokoukis puts it, getting excited about numbers like these is just embracing the weaksauce New Normal economy. Ah, the soothing balm of lowered expectations:
1. In January 2009, Team Obama economists predicted that the unemployment rate by 2013 would be 5.1% (and the economy would be booming at 4% annual growth). Heck, even without the stimulus, they thought the jobless rate would be down to 5.5%. That’s a big miss.

2. The labor force participation rate fell again as potential workers stopped looking for work. If the LFP rate was just where it was a year ago, in February 2012, the official unemployment rate would 8.3%. And if the LFP rate was where it was in January 2009, the unemployment rate would be 10.8%. Does the the aging of the US workforce make that 2009 number less relevant? Probably. But have demographics changed that radically over the past 12 months? Doubtful. …

6. The employment-population ratio is exactly where it was a year ago, at an almost rock-bottom 58.6%.

James Pethokoukis is the Money & Politics columnist-blogger for the American Enterprise Institute. Previously, he was the Washington columnist for Reuters Breakingviews. Pethokoukis has written for many publications including USNews & World Report, The New York Times, The Weekly Standard, Commentary, USA Today, and Investor's Business Daily. The American Enterprise Institute is a community of scholars and supporters committed to expanding liberty, increasing individual opportunity and strengthening free enterprise. AEI pursues these unchanging ideals through independent thinking, open debate, reasoned argument, facts and the highest standards of research and exposition. Without regard for politics or prevailing fashion, we dedicate our work to a more prosperous, safer and more democratic nation and world.
http://aei.org/about/


:Thumbs: Good source 03. Without much if any doubt, Pethokoukis and the American Enterprise Institute are of good repute. And Pethokoukis is right, we're over 4 years into the "fundamental transformation" and we still haven't managed to match the total number of jobs we had when Obama took office; "Horrible! The September Jobs Report just released will be sliced and diced for weeks, but here is some of the most damning news. With a total population 8.8 million larger than when he took office, there are 86,000 fewer people with a job today than when Barack Obama took office in 2009 – 142.187 million in January 2009 and just 142.101 million today.

The Labor Force Participation Rate, the number of people employed or looking for work, dropped to 63.5%"
http://finance.townhall.com/columnists/b...ook_office


The Kool aid gang prefers the version Obama gave in the second debate when he tried to allay the fears of a college student who was worried about finding employment after he graduates. "And what I want to do is build on the 5 million jobs that we've created over the last 30 months in the private sector alone." The only statistical total bigger than the number of pinocchios he got for that one, is the national debt, LOL. Let's see, what was the name of that book? "HOW TO LIE WITH STATISTICS" by Darrell Huff. A must read for administration officials. nicker:

[annsmith]

Some conservatives are suggesting that the Obama Administration "tampered" with the figures shown in Friday's jobs report. The report said that thousands of jobs had been created in September, and that the unemployment rate had plummeted to 7.8 percent.