February jobs report: Unemployment edges down to 7.7%, 236k jobs added

posted at 9:51 am on March 8, 2013 by Erika Johnsen

According to the BLS’s February jobs report, the unemployment rate fell slightly from January’s 7.9% to 7.7%:

Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, construction, and health care.

Household Survey Data

The unemployment rate edged down to 7.7 percent in February but has shown little movement, on net, since September 2012. The number of unemployed persons, at 12.0 million, also edged lower in February. (See table A-1.) …

In February, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.8 million. These individuals accounted for 40.2 percent of the unemployed. (See table A-12.)

The employment-population ratio held at 58.6 percent in February. The civilian labor force participation rate, at 63.5 percent, changed little. (See table A-1.)

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: So, is the uptick reason enough to be upbeat about the ongoing recovery? The report exceeded the expectations for February, and the construction industry came in especially strong with 48,000 jobs, the most in a month since 2007. Jim Cramer at CNBC attributes some of the hiring increase to the end of the fiscal-cliff uncertainty:

 

The labor force, however, contracted by 130k jobs, bringing the labor participation rate down to 63.5%, and HuffPo explains that long-term unemployment inched up again.

The number of Americans who have been jobless for at least six months inched up to 4.8 million after declining slightly in each of the previous months since October. The percentage of unemployed Americans out of work six months or longer increased to 40.2 percent after dipping below 40 percent in December and January for the first time since 2009.

“It’s significant,” Claire McKenna, a policy analyst for the National Employment Law Project, said of the uptick in long-term joblessness. “It’s hard to know what really explains the increase this month but obviously the problem of high long-term unemployment persists.”

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%.


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but also because 130,000 people dropped out of the labor force.

They don’t count so don’t count them.

Lean forward! Because the cardboard box you’re living in might collapse if you slouch against the side.

Bishop on March 8, 2013 at 9:54 AM

They don’t count so don’t count them.

Lean forward! Because the cardboard box you’re living in might collapse if you slouch against the side.

Bishop on March 8, 2013 at 9:54 AM

They’re part of the near-record 6,821,000 who want a job but don’t count as “unemployed”.

Steve Eggleston on March 8, 2013 at 9:56 AM

It’s an ok jobs report at best.

February saw 246,000 jobs added….but January’s previously reported figure of 157,000 new jobs was revised downward to 119,000.

The unemployment rate dropped from 7.9% to 7.7%….but 130,000 more people dropped out of the workforce lowering the labor participation rate from 63.6% to 63.5%.

Doughboy on March 8, 2013 at 9:56 AM

If we do this every month for the whole year we will be making progress, but the average for the 1st 2 months this year is 178,000, hardly a great number. Last year’s January and February numbers were much better averaging 291,000 jobs created so this report is hardly proof that the real recovery is finally here.

http://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth

Wigglesworth on March 8, 2013 at 9:56 AM

The civilian labor force participation rate, at 63.5 percent, changed little …

The month-over-month participation rate means very little … let’s look at the long-term …U.S. Labor Force Participation Rate under obama:

January 2009 … 65.70%

February 2013 … 63.50%

http://ycharts.com/indicators/labor_force_participation_rate

Pork-Chop on March 8, 2013 at 9:57 AM

Wow!

7.7% ? After more than four years? Obama is a genius. Just think, at the end of Obama’s term we may actually get down to 7.6% !!!!!

Happy days are here again!

darwin on March 8, 2013 at 9:57 AM

More people dropping out of the work force and we all cheer. Sheesh

Bevan on March 8, 2013 at 9:57 AM

This should help Obama get reelected.

happytobehere on March 8, 2013 at 9:59 AM

Another site said many if not most of those new jobs were part-time. In fact, part-timers are accounting for an ever increasing share of the “employed”. Now we know why the big push to increase the minimum wage, and also how person income can decline so much while employment is supposedly rising.

tommyboy on March 8, 2013 at 9:59 AM

So much for Obama’s plan to blame the Republicans for all the bad news.

Although the 130k leaving the work force is very bad news. The SRM ignores it but that trend is going to be disastrous. It’s the most important number in these jobs reports IMO.

forest on March 8, 2013 at 9:59 AM

More people should drop out of the work force as many people are starting their retirement, but overall labor participation is still way too low.

22044 on March 8, 2013 at 10:00 AM

If everyone dropped out of the work force the unemployment rate would drop to zero, wouldn’t that be fantastic?

Everyone should quit their jobs and make this nation better. Man, I really have some amazing ideas.

Bishop on March 8, 2013 at 10:01 AM

More people should drop out of the work force as many people are starting their retirement, but overall labor participation is still way too low.

22044 on March 8, 2013 at 10:00 AM

But wouldn’t the labor participation rate remain unchanged if those jobs were being filled by replacements? Instead it looks like the overall number of Americans with jobs just keeps shrinking.

Doughboy on March 8, 2013 at 10:01 AM

jeesh, the unemployment rate could have dropped to 3% and I’ll bet you all would still find something to complain about!

is it a great jobs report? no. Could we be doing better? of course. But this is definitely a step in the right direction.

stuckinwisconsin on March 8, 2013 at 10:02 AM

</emGive us a break with the creative writing by the BLS, which is a shill for Obama. The Jan revision was down from 157K to 119K, and the Birth/Death adjustment was +102K jobs, and that number is pure estimate by the BLS but no facts. The UE rate went from 7.9% to 7.7% because the labor force participation rate went from 63.6% to 63.5% The numbers are such Bull SH-t taht if someone who is unemployed works 1 hour they are considered employed by the BLS. The CNBC hype this morning was pure hype B.S.and now the SPX is flat at 10:00AM

HAGGS99 on March 8, 2013 at 10:03 AM

Further analysis from Tom Blumer:
- The non-seasoned +959,000 non-farm/+512,000 private-sector job gain came oh-so-close to what would be expected in an actual job recovery. Unfortunately, that’s it for the good news not already said.
- Seasonally-adjusted full-time employment dropped by 77,000 in February and is lower than it was in December. Meanwhile, seasonally-adjusted part-time employment rose by 102,000 in February.
- There is a divergence between the population (unemployment) and establishment (jobs) surveys – over the last 4 months, CPS employment rose by 164,000 while CES jobs rose by 821,000.

I somehow believe the second and third items are related, and specifically related to PlaceboCare. Those who hold multiple jobs are counted only once in the CPS, but every job they hold is counted separately in the CES.

Of course, it could also be a case of one survey or the other being a bit “off”; polls do have a margin of error for a reason after all.

Steve Eggleston on March 8, 2013 at 10:04 AM

Like Glenn Reynolds posted:

If we had a Republican president, we’d be seeing late-night comics with jokes like this: “The President says we created a million jobs last month. I believe it — I’ve got five of them!”

beatcanvas on March 8, 2013 at 10:04 AM

jeesh, the unemployment rate could have dropped to 3% and I’ll bet you all would still find something to complain about!

is it a great jobs report? no. Could we be doing better? of course. But this is definitely a step in the right direction.

stuckinwisconsin on March 8, 2013 at 10:02 AM

It’s not a great jobs report. If you only focus on the jobs created and the U3 rate, it’s a good report. But when you delve deeper and look at the labor participation rate and January downward revision, it’s average at best.

Doughboy on March 8, 2013 at 10:04 AM

stuckinwisconsin on March 8, 2013 at 10:02 AM

With a labor participation rate the worst its been since 1984? Yeah, awesome.

Pyrrhus also won a great victory.

Bishop on March 8, 2013 at 10:07 AM

Former vice President Al Gore thinks the light at the end of the tunnel is too much carbon dioxide.

Ok..I made that up. He doesn’t know that much chemistry.

IlikedAUH2O on March 8, 2013 at 10:08 AM

The unemployment rate dropped from 7.9% to 7.7%….but 130,000 more people dropped out of the workforce lowering the labor participation rate from 63.6% to 63.5%.

Doughboy on March 8, 2013 at 9:56 AM

They’ve all moved to Colorado and Washington State to enhance the new “underground” economy. (think green)

Rovin on March 8, 2013 at 10:08 AM

As for the labor-force participation rate, the strange thing is that the Big Boomer Retirement wave hasn’t exactly hit yet. The older parts of the population (55 and older) are participating in near-record percentages (the worst within a percentage point of the February non-seasonally-adjusted record), with the 60-64 and 75-and-older crowds actually participating in a greater percentage than ever before recorded. It’s the under-55 crowd that isn’t participating the way they used to.

Steve Eggleston on March 8, 2013 at 10:08 AM

But wouldn’t the labor participation rate remain unchanged if those jobs were being filled by replacements? Instead it looks like the overall number of Americans with jobs just keeps shrinking.

Doughboy on March 8, 2013 at 10:01 AM

That’s a fair point, in theory and in a better economy, people voluntarily leaving the work force should lead to job vacancies and openings.

22044 on March 8, 2013 at 10:09 AM

stuckinwisconsin on March 8, 2013 at 10:02 AM

jeesh, the unemployment rate could have dropped to 3% and I’ll bet you all would still find something to complain about!

The unemployment rate did not drop to 3%. You set up a stupid strawman to ignore the dismal performance of the rat-eared traitor and his party.

is it a great jobs report? no. Could we be doing better? of course. But this is definitely a step in the right direction.

It is no step at all you moron. Treading water is not the same thing as seeing real improvement. And ask those 130,000 people who dropped out of the labor force if they’re popping champagne today over the super awesome job the filthy bastard is doing about creating jobs.

Happy Nomad on March 8, 2013 at 10:10 AM

HAGGS99 on March 8, 2013 at 10:03 AM

Exactly correct. The ministry of truth put out another propaganda report. How unexpected. Do they study creative writing in the PRC? Oh wait. They don’t need to. We teach that here now.

dogsoldier on March 8, 2013 at 10:11 AM

Happy days are here again!! Woo hoo!! /

changer1701 on March 8, 2013 at 10:12 AM

“If we pass the Stimu-less Bill, the unemployment rate will fall below 6%”..

sincerely,
Barry O’drama

hillsoftx on March 8, 2013 at 10:12 AM

Despite Rush’s comments..

If you libs knew how many people pray for President Obama and this group to succeed.

If you thought for a moment about the broken dreams, the miserable lives, the wrecked futures, the angst and the damage our economy is carrying due to the last five years, the outpouring of anger would make the Viet Nam marches would look like bake sales.

Americans of all types like their stuff and they enjoy it more when they earn their stuff!

Do something innovative, Mr. President.

Make a sharp right turn.

IlikedAUH2O on March 8, 2013 at 10:13 AM

This is why we can’t simplify the tax code. The government needs this influx of part-time tax preparers to make it look like people are getting jobs.

RW_theoriginal on March 8, 2013 at 10:14 AM

Related to an earlier comment, Zero Hedge notes that mulitple jobholders increased by a record 340,000 (I believe that is not seasonally-adjusted).

Steve Eggleston on March 8, 2013 at 10:15 AM

stuckinwisconsin on March 8, 2013 at 10:02 AM

Trade you, I’m stuckinillinois. I hear some new mining jobs are coming to upper Wisconsin.

Fallon on March 8, 2013 at 10:17 AM

Total BS… Many of these added jobs are Part Time jobs due to Obamacare… Many small and middle businesses are reducing the working hours of their employees to less than 30 hours to avoid paying for their insurance under Obamacare and hence to make up for the loss of productivity in the reduction of hours for their current employees they have to hire more Part Time employees…

mnjg on March 8, 2013 at 10:18 AM

In February Multiple Jobholders Rose By A Record, As Full-Timers Dropped, Part-Timers Increased

http://www.zerohedge.com/news/2013-03-08/february-multiple-jobholders-rose-record-full-timers-dropped-part-timers-increased

tommyboy on March 8, 2013 at 10:19 AM

stuckinwisconsin on March 8, 2013 at 10:02 AM

Trade you, I’m stuckinillinois. I hear some new mining jobs are coming to upper Wisconsin.

Fallon on March 8, 2013 at 10:17 AM

I’ll facilitate this trade.

Steve Eggleston on March 8, 2013 at 10:20 AM

Some people need to take more math classes. The WH has figured out what happens when you lower the denominator.

Notorious GOP on March 8, 2013 at 10:21 AM

The numbers were also lousy for non-White unemployment. This was, at best, a “meh” report.

irishspy on March 8, 2013 at 10:23 AM

“The unemployment number would have been lower if it wasn’t for the Republican Sequester” – insert name

Electrongod on March 8, 2013 at 10:24 AM

tommyboy on March 8, 2013 at 10:19 AM

Great minds…. :-)

Steve Eggleston on March 8, 2013 at 10:24 AM

Joke numbers. It is spring. Jobs always go up as the temp does. My company brings them in at 8.5 an hour, 15k a year. Good luck getting them to cough up the 20k for insurance, even with both spouses working. Barry, you are doing a right good job with the job jokes. Dems should be so proud of the cardboard cities your boss is making.

Limerick on March 8, 2013 at 10:28 AM

Lsm really hyping these numbers and asking gop now can you admit the policies of Obama are good

cmsinaz on March 8, 2013 at 10:30 AM

The labor force, however, contracted by 130k jobs, bringing the labor participation rate down to 63.5%, and HuffPo explains that long-term unemployment inched up again.

HotAirLib’s Obama-fellating-enthusiasm hardest hit.

Midas on March 8, 2013 at 10:33 AM

Lsm really hyping these numbers and asking gop now can you admit the policies of Obama are good

cmsinaz on March 8, 2013 at 10:30 AM

Which policies would those be? Obamacare? Trillion-dollar deficits? Tax hikes on 77% of working Americans? Killing the coal industry? Hey, if Obama and the Dems want to go out there and sell that to the electorate, more power to them.

Doughboy on March 8, 2013 at 10:33 AM

Doughboy they won’t give specifics just a general admit it Obama is awesome

cmsinaz on March 8, 2013 at 10:37 AM

Anybody want to buy a bridge in Brooklyn? Anybody?

bgibbs1000 on March 8, 2013 at 10:38 AM

“It’s hard to know what really explains the increase this month but obviously the problem of high long-term unemployment persists.”

Shorter: “We’ll write tomes about any morsel that even smells like good news for the Obama administration but we really can’t explain in any detail or quippy quotes why some attributes indicate a worsening employment environment. The reason for that is because doing so would violate the WH memo that instructs how and when to report things.”

BobMbx on March 8, 2013 at 10:41 AM

Anybody want to buy a bridge in Brooklyn? Anybody?

bgibbs1000 on March 8, 2013 at 10:38 AM

Sure, I’ll just get 3 more part time jobs and I’ll be able to afford it.

forest on March 8, 2013 at 10:46 AM

If everyone dropped out of the work force the unemployment rate would drop to zero, wouldn’t that be fantastic?

Everyone should quit their jobs and make this nation better. Man, I really have some amazing ideas.

Bishop on March 8, 2013 at 10:01 AM

If you examine socialism, this is always the end goal. The problem of food supply and other basic needs is just a distraction.

BobMbx on March 8, 2013 at 10:49 AM

Gotta love them “Obamanomics”! The Chosen One is doing a great job! Now if we can just raise taxes AND the minimum wage, Happy Days will be here again.

GarandFan on March 8, 2013 at 10:49 AM

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

heck, well below where it was 4 years ago!

topdog on March 8, 2013 at 10:53 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

My own jobs report: I’ve been out of work since four days before our America-hating, pro-impoverishment Sociopath in Chief was re-inaugurated, and there doesn’t appear to be a whiff of a chance that I’ll be back in full-time employment anytime soon.

So the fawning, fellating 51% who reelected this P O S can go pound sand. Thanks a lot, a holes.

Right Mover on March 8, 2013 at 10:59 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

…And the days talking points have been distributed at the OFA boiler-room operation.

Do you ever get tired of being a tool, or does the $1.00 per post count as the only thing that matters?

trigon on March 8, 2013 at 11:01 AM

Good thing the GOP Obama is doing everything they he can to increase unemployment by cutting state private sector jobs. Since, you know, government workers don’t the private sector doesn’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

Low information voter.

Right Mover on March 8, 2013 at 11:05 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

Agreed. We should make every worker in America a government employee and solve the unemployment problem.

Bishop on March 8, 2013 at 11:14 AM

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.

Or to put it in the manner every Republican should – the economy still hasn’t recovered from when Reid, Pelosi, and Obama started to implement their economic policies in 2007.

18-1 on March 8, 2013 at 11:14 AM

Since, you know, government workers don’t contribute to consumer spending.

Every dollar in government worker spending comes from someone in the private sector.

So really, the number we should be tracking is total private sector jobs.

18-1 on March 8, 2013 at 11:15 AM

Low information voter.

Right Mover on March 8, 2013 at 11:05 AM

LIVs need to be treated in a special way.

First you give them something they care about like the fact Justin Beiber tried attacking a photographer in London and is quoted as saying “I’ll f**king beat the f**k out of you.”

Now you can try introducing something non-parasites are concerned about like job creation.

Happy Nomad on March 8, 2013 at 11:24 AM

Lean forward! Because the cardboard box you’re living in might collapse if you slouch against the side.

Bishop on March 8, 2013 at 9:54 AM

I can’t even afford a cardboard box

redguy on March 8, 2013 at 11:25 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

Low IQ communist scum and slave of the State… Who pays for the State employees? TAX PAYERS… In other word the State employees get their money from other producers… So for every dollar a state employee gets that is one dollar less from the other producers…

mnjg on March 8, 2013 at 11:27 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

They’re doing what they have to in order to balance their budgets. Most governors are required to do that unlike our unaccountable, irresponsible representatives in DC. Or would you rather they hike taxes instead?

Doughboy on March 8, 2013 at 11:27 AM

Sequester is already working! We should cut more!!

besser tot als rot on March 8, 2013 at 11:39 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

To give that money to the government workers, the government had to first take it out of the economy. At best, there is a zero effect. But, more likely, due to inefficiencies, the net economic effect is likely negative.

besser tot als rot on March 8, 2013 at 11:42 AM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

Wow libfreeloaderordie….man I respected your intelligence at some level but you just ended that today.

As others have educated you already, that is hands down the greatest display of basic economic stupidity that I have witnessed.

You are still too much of an adult child living in a sheltered world to discuss real issues.

ClassicCon on March 8, 2013 at 11:43 AM

Right Mover on March 8, 2013 at 10:59 AM

Yeah, I was just let go from my job last Friday. In my area, if you aren’t a nurse or have a cdl there is nothing. At 62 I am basically screwed. Thanks POTUS you POS.

BeachBum on March 8, 2013 at 11:51 AM

February jobs report: Unemployment edges down to 7.7%, 236k jobs added

LOL. Does anyone with a brain even take any of these government numbers seriously, anymore?

ThePrimordialOrderedPair on March 8, 2013 at 11:56 AM

Yeah, I was just let go from my job last Friday. In my area, if you aren’t a nurse or have a cdl there is nothing. At 62 I am basically screwed. Thanks POTUS you POS.

BeachBum on March 8, 2013 at 11:51 AM

Sincerely sorry to hear that man. You need to get on every government program you can…milk this system dry and let it burn.

ClassicCon on March 8, 2013 at 12:01 PM

LOL. Does anyone with a brain even take any of these government numbers seriously, anymore?

ThePrimordialOrderedPair on March 8, 2013 at 11:56 AM

Not for the last few years actually, with the exception of the socialist skunks.

dogsoldier on March 8, 2013 at 12:13 PM

Sincerely sorry to hear that man. You need to get on every government program you can…milk this system dry and let it burn.

ClassicCon on March 8, 2013 at 12:01 PM

Even if you go on unemployment and carry it through to all of its possible extensions, if you have a family and need to insure them, it’s set up so that the out-of-pocket COBRA payments will eventually break you, and you’re supposed to at that point be begging for the government to take it all over and provide it to you for “free”–the quality and accessibility of it be damned.

This president is a vile, vile individual, and every piece of scum that voted to pass Obamacare in 2010 but to exempt themselves from all its evils deserves to suffer mightily.

Right Mover on March 8, 2013 at 12:15 PM

When compared to the same period in 2012, Jan/Feb 2013 look downright abysmal.

http://www.zerohedge.com/news/2013-03-08/what-difference-jobs-12-trillion-debt-makes

crosspatch on March 8, 2013 at 12:16 PM

Good thing the GOP is doing everything they can to increase unemployment by cutting state jobs. Since, you know, government workers don’t contribute to consumer spending.

libfreeordie on March 8, 2013 at 10:55 AM

Unless I’m off my nut I believe the sequester related to the FEDERAL budget, not individual states.

Fail.

Tenwheeler on March 8, 2013 at 12:25 PM

And by the way Sweetie, in case you’ve missed it so far,

THE SEQUESTER WAS OBAMA’S IDEA.

Tenwheeler on March 8, 2013 at 12:26 PM

Unexpectedly good report, given the bad winter weather the Northeast suffered in Feb. But combined with the other strong numbers we’ve seen in the last few weeks (first time weekly jobless claims hit a 5-year low this week, and the 4-week average is now below 350K), we’re seeing a portrait of a much improved US economy this Spring … Meanwhile, on The Street, the Bulls are in charge and the Bears are on the sidelines, shellshocked … see you at 15K? … Let it ride …

TouchdownBuddha on March 8, 2013 at 1:02 PM

Yeah, but just wait until those MASSIVE layoffs of TSA workers begin because of sequestration!

The gnashing of teeth will be epic.

Polish Rifle on March 8, 2013 at 1:13 PM

TouchdownBuddha on March 8, 2013 at 1:02 PM

Low information voter alert.

Right Mover on March 8, 2013 at 1:29 PM

And by the way Sweetie, in case you’ve missed it so far,

THE SEQUESTER WAS OBAMA’S IDEA.

Tenwheeler on March 8, 2013 at 12:26 PM

And Obama doesn’t bluff. I’ve heard that somewhere.

BobMbx on March 8, 2013 at 1:59 PM

Heck, even without the stimulus, they thought the jobless rate would be down to 5.5.

This prediction is probably close, but possibly high. Even socialist Sweden and liberal canada have done well without stimulus.

burt on March 8, 2013 at 2:10 PM

The headline number hides the fact the employment situation is much worse than meets the eye.

voiceofreason on March 8, 2013 at 2:31 PM