Friday, March 4, 2011
The Department of Labor has just released its employment report for February and the numbers are looking pretty good (relatively speaking, at least). Employment increased by 192,000 last month, bringing the unemployment rate down a bit to 8.9%. Many of the new jobs came from the manufacturing, construction, and service industries. Government continued to lose jobs.
Perhaps the best part of this report is the 192,000 figure. That's a bit more jobs than most economists say is needed to keep up with a rising number of working-age people in the country. That is, this report, and hopefully the ones after, may be turning the corner to a situation when we're not just treading water, but actually getting back some of the huge job losses we saw in the recession.