Skip to comments.US employers add 175K jobs despite harsh weather
Posted on 03/07/2014 6:59:34 AM PST by Phillyred
WASHINGTON (AP) - U.S. employers stepped up hiring in February despite a blast of harsh winter weather, likely renewing hopes that the economy will accelerate this year. The Labor Department said Friday that employers added 175,000 jobs, up from 129,000 in January. The unemployment rate rose to 6.7 percent from a five-year low of 6.6 percent as more Americans began seeking jobs but many didn't find them. That's still an encouraging sign because more job hunters suggest that people were more optimistic about their prospects. Friday's figures were a welcome surprise after recent reports showed that harsh weather had closed factories, lowered auto sales and slowed home sales. Along with an increase in wages last month, the report suggests that employers are confident that consumer spending will pick up in coming months. "If the economy managed to generate 175,000 new jobs in a month when the weather was so severe, once the weather returns to seasonal norms ... employment growth is likely to accelerate further," Paul Dales, an economist at Capital Economics, said in a note to clients. Stock futures rose modestly after the report's release at 8:30 a.m. Eastern time. The severe winter weather appeared to have had little effect on payrolls. Construction companies, which usually stop work in bad weather, added 15,000 jobs. Manufacturing gained 6,000 for the second month in a row. Government added 13,000 jobs, the most in six months. Shipping and warehousing companies and retailers cut jobs. The report presents "a picture of a grinding but positive recovery in the economy," said Stephen Wood, chief market strategist at Russell Investments. The government revised up its estimate of job gains for December and January by a combined 25,000. December's gain was revised up from 75,000 to 84,000, January's from 113,000 to 129,000...
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LIES from the corrupt regime.
I see they had their builtin excuse all ready - harsh weather prevented job growth.
Based on prior realities, once the “Lewinsky” media proclaim LOUDLY that “Dear Leader’s” economy is “coming back”... a week or so later, we get the “previous reports revised downward” whisper! As Rush says: “There’s no news any more only liberal narrative”.
And how many jobs were eliminated in the same time period? 200K, 225K, 250K or?
Gov added 13,000 of them. That should be thrown out of the equation.
...and what job growth rate is just keeping even with population growth? Isn’t it about 190,000?
175,000 new jobs for the MONTH, while
new unemployed newly liberated from work still runs about 1,400,000 per MONTH.
Think the same lapdog media will report how many thousands of Americans are added to the welfare rolls every month? Hardly. They’re grasping at anything to rescue this administration, and long term they know if things aren’t perceived as getting better it will harm Hillary’s chances too.
Since when is adding only 175K jobs a month a good thing. I recall when Bush was in office in 2002, 175K jobs a month didn’t keep up with population growth, were all low paying jobs and was proof that the economy was not recovering from the recession following Tyco, Enron and 9/11. Remember? It was “a jobless recovery”.
This isn’t a recovery at all. This economy is in the tank and filling up with water. I suppose as a percentage of the total workforce, 175K might be better than when most of the people in this country were actually IN THE WORKFORCE.
Gulp, gulp. The AP just eats up the bullcrap numbers.
“The unemployment rate rose to 6.7 percent from a five-year low of 6.6 percent as more Americans began seeking jobs”
See how that works? Unemployment numbers go up? It’s because more people are seeking jobs.
Unemployment numbers are not up? It’s a very good thing it’s because of harsh weather.
Think if we could get the unemployment rate up to 20%, all our economic problems would be solved!! /sarcasm
And incorrect. I'd be glad to fix it.
US employers add 175K TEMPORARY jobs
despite DUE TO harsh weather.
This figure will be revised downward next month as it always is. These numbers mean nothing. Our economy stinks and every sane person knows it.
Hey with all the snow, who would be surprised that they were shovel ready jobs available??
They’re just hiring people to shovel snow.
“Our economy stinks and every sane person knows it.”
Though few recall that the economy did begin to recover early in the Obama Administrations first term, prior to the stimulus money being spent...then they strangled it. Even some of the stimulus money went to groups that contributed directly to the strangling.
...and the stimulus was spent, and spent again, and again, and again, and partially a fifth time, to no further national benefit.
At this point, the deficit, plus the Fed have been pumping 2 Trillion a year into the economy, and getting 300 Billion put.