The U.S. unemployment rate declined from 7.9 percent in January to 7.7 percent in February as the economy created 236,000 jobs, according to data from the U.S. Bureau of Labor Statistics.
That’s the third time in the last four months the economy has created more than 200,000 jobs – and unemployment is now at its lowest level since December 2008.
Unfortunately the news wasn’t all good, as the nation’s labor participation rate inched back down to 63.5 percent. That equals a three-decade low last reached in August 2012. By contrast, the labor participation rate stood at 65.7 percent when U.S. President Barack Obama took office in January 2009. Also the underemployment rate – a broader, more accurate measure of joblessness – stood at 14.3 percent.
“Private employers continue to move forward in creating jobs in spite of regulatory headwinds and higher taxes,” said Bill Wilson, president of Americans for Limited Government. “Incredibly, while the number of jobs created by the private economy continues to grow, the number of people who are abandoning the workplace also continues to accelerate. In February alone, almost 300,000 more workers left the workforce and the percentage of workers in the labor force dropped to its lowest level since 1981 at 63.5 percent.”
Then there’s the issue of part-time versus full-time employment.
“Those who track the quality composition of the jobs, as opposed to just the quantity, will know that the part and full-time jobs breakdown has long been a major issue,” write the authors at ZeroHedge. “In February … the number of full-time jobs declined by 77K from 115,918,000 to 115,841,o00. The offset: a jump in part-time workers which rose from 27,467,000 to 27,569,000 or 102K.”
ZeroHedge also points out that February saw a record increase of 340,000 multiple job-holders …
“One wonders: how many actual people got new jobs, as opposed to how many qualified single individuals ended up getting more than one job in February in order to boost that much needed weekly income to sustainable levels,” the site mused.
In South Carolina, unemployment is currently 8.4 percent while underemployment stands at 15.8 percent. Last summer, South Carolina’s labor participation rate hit an all-time low of 58.4 percent.
FEBRUARY 2013 EMPLOYMENT SITUATION REPORT
***
36 comments
Yo, Fits and Bill Wilson, every month 300,000 people turn 65. Google ‘Baby Boom’
Great. More people to put a strain on social security…
Yo Vic, every month 350,000+ people turn 18… Google US birth rates
The birth rate in 1947 was 24 per thousand versus 14 per thousand in 1995.
Yo, Fits and Bill Wilson, every month 300,000 people turn 65. Google ‘Baby Boom’
Great. More people to put a strain on social security…
Yo Vic, every month 350,000+ people turn 18… Google US birth rates
The birth rate in 1947 was 24 per thousand versus 14 per thousand in 1995.
“ZeroHedge also points out that February saw a record increase of 340,000 multiple job-holders …”
No surprise with all the minimum wage loving employers like Walmart. Rolling shit back, indeed!
Obama has so SCREWED UP the economy. Salaries are Nose=-Diving and Unemployment rampant…familes have to Struggle to get by…
And good-for-nothing, sorry pieces of $#!* like you bash job-providers..
I’m not a violent person, but if I were, and you were near me spouting your Liberal, Sutpid Bull=-$#!t, I’d be compelled to Slap the $#!* out of your Ignorant, Communist @$$…So look out if you are in public running your mouth…others may not be as restrained as I am…and Rand Paul has emboldened us…
I can suffer FOOLS, but for so long. and you, and the idiots like you, are D@*n FOOLS…
So Walmart was paying its employees higher wages under Bush? These “job providers” have taken three jobs for every two jobs they create on the local level. Noticed the mom and pop businesses dissappearing? Their employees have been bitching forever about the treatment from this behemoth, shit machine. Maybe your head’s been up your ass too long that you haven’t noticed? Many of these “employed” workers are on social assistance. Here’s something from the state of Ohio:” The Department of Job and Family Services tapped into its centralized system that caseworkers use to issue benefits and reported to Hagan that 15,484 Wal-Mart workers and dependents received Medicaid benefits in June 2009, and 12,872 Wal-Mart workers and dependents got food stamps.”
Wonder why I give you so much shit, Bigums? You’re a goddamn hypocrite…and a pussy.
IS: After you looked so F&*&in stupid wth your “Glober” Claims…that I would not acept any of your Leftwing propaganda diquised as “research.”
You impress me a petulant, little yuppie-offspring PUNK, who has never had to produce in your coffee-shop profit life…
Wal-Mat thrives because it competes and earns a market share. No one is forced to work for them, and their emplyees routinely deny the leftwing claims aganst the company.
And there are many businesses (family owned) that do very well around a Wal-Mart…even if that was any of your F^&*in business…
You HATE Wal-Mart because they are not an @$$-kissin…Liberal bunch of freaks, like you and Obama prop up w/ MY tax money…So STFU..
Once again, Bigums, you have nothing.
The good news: It’s getting warmer and people need their yards mowed. :)
Don’t see many “family” owned businesses around a Walmart, most are franchised ,chain stores. In FACT, Walmart has historically put the “mom and pop” establishments out of business. Of course a “trained professional journalist” would know this.
There again, we ARE dealing with the big idio”T”.
YOU BETCHA!
YOU BETCHA!
Don’t do Walmart, don’t do Lowes.
Support your local family owned business!
Do You F^&*in idiots nutjobs hate Best Buy, Staples, K-Mart and Outback too…
Franchises have just as much right to operate as anyone. in Lexington, there is a Wal-Mart…and there is family owned business all around…along w/ food Lion, SteinMart and Arby’s..
Just because your lord and savior Obama did not get the money from Wal-Mart he wants..you Dumb@$$#$ think you can Gestapo them out of business…
Wal-Mart is in steep competition with Arby’s! Thanks for the 411…
big idio”T”,
You sure have a very limited vocabulary for a “trained professional ” journalist.
How come?
YOU BETCHA!
YOU BETCHA!
Are you back to lying again? Unemployment rate is below where it was when Bush left office. Incomes up not down since the Bush Recession. Stock market way up since Obama took office. Gas prices lower than the highest price under Bush. Annual federal deficit as a percentage of GDP down every year since 2009. You are not even a good liar.
?
“ZeroHedge also points out that February saw a record increase of 340,000 multiple job-holders …”
No surprise with all the minimum wage loving employers like Walmart. Rolling shit back, indeed!
Obama has so SCREWED UP the economy. Salaries are Nose=-Diving and Unemployment rampant…familes have to Struggle to get by…
And good-for-nothing, sorry pieces of $#!* like you bash job-providers..
I’m not a violent person, but if I were, and you were near me spouting your Liberal, Sutpid Bull=-$#!t, I’d be compelled to Slap the $#!* out of your Ignorant, Communist @$$…So look out if you are in public running your mouth…others may not be as restrained as I am…and Rand Paul has emboldened us…
I can suffer FOOLS, but for so long. and you, and the idiots like you, are D@*n FOOLS…
So Walmart was paying its employees higher wages under Bush? These “job providers” have taken three jobs for every two jobs they create on the local level. Noticed the mom and pop businesses dissappearing? Their employees have been bitching forever about the treatment from this behemoth, shit machine. Maybe your head’s been up your ass too long that you haven’t noticed? Many of these “employed” workers are on social assistance. Here’s something from the state of Ohio:” The Department of Job and Family Services tapped into its centralized system that caseworkers use to issue benefits and reported to Hagan that 15,484 Wal-Mart workers and dependents received Medicaid benefits in June 2009, and 12,872 Wal-Mart workers and dependents got food stamps.”
Wonder why I give you so much shit, Bigums? You’re a goddamn hypocrite…and a pussy.
IS: After you looked so F&*&in stupid wth your “Glober” Claims…that I would not acept any of your Leftwing propaganda diquised as “research.”
You impress me a petulant, little yuppie-offspring PUNK, who has never had to produce in your coffee-shop profit life…
Wal-Mat thrives because it competes and earns a market share. No one is forced to work for them, and their emplyees routinely deny the leftwing claims aganst the company.
And there are many businesses (family owned) that do very well around a Wal-Mart…even if that was any of your F^&*in business…
You HATE Wal-Mart because they are not an @$$-kissin…Liberal bunch of freaks, like you and Obama prop up w/ MY tax money…So STFU..
Once again, Bigums, you have nothing.
The good news: It’s getting warmer and people need their yards mowed. :)
Don’t see many “family” owned businesses around a Walmart, most are franchised ,chain stores. In FACT, Walmart has historically put the “mom and pop” establishments out of business. Of course a “trained professional journalist” would know this.
There again, we ARE dealing with the big idio”T”.
YOU BETCHA!
YOU BETCHA!
Don’t do Walmart, don’t do Lowes.
Support your local family owned business!
Do You F^&*in idiots nutjobs hate Best Buy, Staples, K-Mart and Outback too…
Franchises have just as much right to operate as anyone. in Lexington, there is a Wal-Mart…and there is family owned business all around…along w/ food Lion, SteinMart and Arby’s..
Just because your lord and savior Obama did not get the money from Wal-Mart he wants..you Dumb@$$#$ think you can Gestapo them out of business…
Wal-Mart is in steep competition with Arby’s! Thanks for the 411…
big idio”T”,
You sure have a very limited vocabulary for a “trained professional ” journalist.
How come?
YOU BETCHA!
YOU BETCHA!
Are you back to lying again? Unemployment rate is below where it was when Bush left office. Incomes up not down since the Bush Recession. Stock market way up since Obama took office. Gas prices lower than the highest price under Bush. Annual federal deficit as a percentage of GDP down every year since 2009. You are not even a good liar.
?
Yay, another bubble forming nicely on a wave of monthly money printing. I give it a year or so, tops…of course the inflation moves in the 2nd half of this year should be interesting.
Wonder how long till a bond crisis hits.
Yay, another bubble forming nicely on a wave of monthly money printing. I give it a year or so, tops…of course the inflation moves in the 2nd half of this year should be interesting.
Wonder how long till a bond crisis hits.
It would be interesting to see figures on total payroll, rather than jobs.
It would be interesting to see figures on total payroll, rather than jobs.
But Obama told us Sequester would be the end of the world, and make HIS unemployment rate even WORSE…
Another Obama Lie…Anyone suprised?
But Obama told us Sequester would be the end of the world, and make HIS unemployment rate even WORSE…
Another Obama Lie…Anyone suprised?
Good news, comrades!
H.R. 2494
To authorize and direct the Secretary of State and the Commissioner of Social Security to continue to work with the governments of the states of the former Soviet Union to encourage such states to adopt policies that would allow receipt of pensions for individuals who worked in any such state and earned a pension and currently reside in the United States, and for other purposes.
Good news, comrades!
H.R. 2494
To authorize and direct the Secretary of State and the Commissioner of Social Security to continue to work with the governments of the states of the former Soviet Union to encourage such states to adopt policies that would allow receipt of pensions for individuals who worked in any such state and earned a pension and currently reside in the United States, and for other purposes.