While 175,000 jobs added is much better than the previous two months numbers, it is in fact a paltry amount. e need somewhere around 130,000 jobs added each month just to keep pace with population growth, let alone put a dent in the real unemployment number.
Wall Street and Main Street got something to cheer about on unemployment report, but bond investors won't be happy. The Bureau of Labor Statistics reported 175,000 new jobs in February, and the unemployment rate remained essentially unchanged at 6.7%. Economists had expected 157,000 new jobs. More jobs mean more spending on goods and services, something that should make stock investors happy. Wage pressures remained muted, posing little threat to corporate earnings. Futures on the Standard and Poor's 500 stock indexes rose 0.44% in early morning trading on the news, and Dow futures rose more than 70 points. Those words could be used to describe this morning’s Bureau of Labor Statistics federal employment issue. The 175,000 net new jobs were almost exactly the 172,000 estimate offered in The New York Time’s Economics’ . The headline seasonally adjusted unemployment rate went up, though only a tenth of a percent to 6.7 %.( New York times.com). Although official joblessness rose, the American Job Shortage Number decreased over 300,000, mostly on smaller counts of discouraged workers and those not having looked in the previous year. The total number of additional American positions that could be quickly filled is still almost 20.3 million.
"The worst problem is that long-term unemployment — defined as being out of work for 27 weeks or more — is near a World War II peak." From a technical standpoint, the recession ENDED in mid-2009, some 3 1/2 YEARS ago. So what is the problem? MASSIVELY INCREASED WELFARE, programs created by the Obama Administration under the guidance of the Obama/Pelosi/Reid Triad. Increased welfare is a DISINCENTIVE to find a job and creates people who live off hard working Americans....