Updated: Jobs picture continues to improve, economy adds 227K (best six months since 2006)

[ProSense]

Jobs picture continues to improve, economy adds 227K

By Steve Benen

Most estimates in advance of today's new jobs report from the Bureau of Labor Statistics suggested the economy added about 210,000 jobs in February. As it turns out, we did even better than that.

The U.S. economy added 227,000 jobs last month, while the overall unemployment rate remained steady at 8.3%. At first blush, that may sound discouraging, but the details matter -- the jobless rate remained the same, despite the increase, because "more because more people entered the workforce in search of jobs."

And that's what we want -- it's evidence of a healthier economy.

As is always the case, there was a gap between the private and public sectors. Businesses added 233,000 jobs last month, while budget cuts forced the public sector to shed another 6,000 jobs.

Nevertheless, it's hard not to feel encouraged about the recent data. Indeed, perhaps the most striking aspect to today's report were the revisions: job totals from December showed an additional 20,000 jobs (from 203,000 to 223,000), while January added an additional 41,000 (from 243,000 to 284,000).

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Update: Here's another chart, this one showing monthly job losses/gains in just the private sector since the start of the Great Recession.


- more -

http://maddowblog.msnbc.msn.com/_news/2012/03/09/10621597-jobs-picture-continues-to-improve-economy-adds-227k

Boomberg:

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Some 1.2 million jobs were created in the last six months, the most since the same period ended May 2006.

The unemployment rate, derived from a separate survey of households, was forecast to hold at 8.3 percent, according to the survey median. The jobless rate held steady even as the survey showed the labor force grew. Employment climbed by 428,000 in February, while the labor force rose 476,000.

The participation rate, which indicates the share of working-age people in the labor force, rose to 63.9 percent from 63.7 percent.

Private payrolls, which exclude government agencies, rose 233,000 in February after a revised gain of 285,000 the prior month. They were projected to climb by 225,000. Manufacturing payrolls increased by 31,000 after a revised 52,000 gain.

- more -

http://www.bloomberg.com/news/2012-03-09/payrolls-in-u-s-climb-more-than-forecast-unemployment-rate-holds-at-8-3-.html

[Historic NY]

1. Meanwhile the GOP is still pushing the gloom & doom scenario.

[ProSense]

2. Not only that,

they're ignoring the facts, but are trying to create the impression that they're doing something about it.

What they're doing is pushing trickle-down economics, saying anything in the face of good economic news, and pretending they're at work in the House by passing a bunch of useless bills.

[Johnny2X2X]

3. Great News

Month by month the Republican talking points go out the window. Great to see the job growth, great to the the increase in employment, that's been their talking point for months and months and we are seeing that turn around dramatically. The number of people employed in February were at the highest levels since January 2009.

Keep up the good work America! Keep up the good work Obama!