March 9, 2012
February Unemployment Data
The Department of Labor released its February unemployment data today. The short version: the unemployment rate is unchanged at 8.3%, but there were an additional 227,000 jobs this past month. The disparity between the two is due in large part to more people re-entering the workforce as jobs become more available. Not great for the unemployment number, but a good sign for the economy. Other good signs from the report: the Dec. and Jan. job gains were revised up by 61,000; government employment declined by only 6,000 (the previous month was 22,000); hourly wages increased some; and there was a big increase in temp jobs, which often lead the way for other job gains. Still a ways to go, but things still going in the right direction.
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