Friday, March 4, 2011
Jobless Rate Falls to 8.9%
From the Wall Street Journal:
Brisk hiring in February pushed the U.S. unemployment rate below 9% for the first time in nearly two years—a development that reflects a broadening recovery.
Employers rebounded from a harsh winter to add 192,000 jobs to nonfarm payrolls in February as the unemployment rate fell one notch to 8.9%, the lowest level since April 2009, the Labor Department reported Friday.
Including revisions to previous monthly reports, the economy has added an average of 136,000 jobs a month since November, just barely more than the 100,000 a month needed to keep up with typical growth in the labor force.
Since President Obama took office, well over 2,000,000 jobs have been created. Contrast that to the 750,000 jobs being lost every month at the end of the Cheney/Bush administration.
The conference room at the Fox Channel is filled with people right now trying to figure out how to present this as terrible news.