246,000 New Jobs Drop Rate to 7.7%

[boedicca]

The number of FULL TIME JOBS actually DECLINED by 70,000

Part time workers increased by 102,000

Those holding multiple jobs (i.e., people with 2 or more low wage McJobs), increased by 340,000

The entire gain in jobs is due to destruction of full time jobs in (likely due to ObamaCare's 30 hour threshold) which have been replaced by workers having to find multiple part time jobs.

Thanks Obama!

Table A-9. Selected employment indicators

 

[g5000]

Couple of quick points first how many have dropped out of the work force? How many are under employed? What type of jobs are being created high or low paying ? These are all important things to consider when looking at this number.

Those are trailing indicators.

A final thought might this also show we can cut spending and the economy won't collapse ?

Trying to play both sides? Make up your mind. Is the economy improving or not?

 

[NYcarbineer]

Apparently from all the hem and haw from the right here today,

an economy creating a quarter million jobs a month, with a stock market hitting new highs, and with government shrinking,

that's not the kind of world conservatives want.

What do you people want?

 

[NoNukes]

This will certainly be a bad, bad day for Republicans - expect to see the tea cons uncontrolled rage and hate talk today!!

Personally, I am happy. There are 236,000 new burger flippers and janitors. Service at MacDonalds should be more efficient - and cleaner - assuming these 236,000 formerly unemployed public-school educated welfare cases know how to work/follow directions.

After you arrive at work tonight, report back as to whether the conditions are better.

 

[Truthmatters]

black people to disapear

 

[GHook93]

Really now ... Bush was losing jobs at a rate of 700,000 a month!

Or didn't Limbaugh teach you that?

"Bush" wasn't losing any jobs. The Democratic Congress was losing jobs.
Keep up much?

You've been blaming Obama for the unemployment rate. Don't pretend Bush never existed and change your tune when it comes to him.

Bush blew it. Everyone knows it.

The mortgages that blew up had three year fuses. They were lit on Bush and the GOP Congress's watch.

Christ, some of you act like Bush was just occupying a chair and not responsible for anything.

A three year fuzz? Get a clue the snowball down the hill started under Clinton:
(1) Main Culprit: Community Reinvestment Act - Like communism it's good on paper, horrendous in practice. This law forced banks to lend a certain percentage to lower income individuals and minorities or loss tax benefits, face fines and other punitive measures. Banks were forced to give away money to people less likely to be able to pay it back. The lenders are too blame also, but fly by night subprime lenders sprung up like Fremont, New Century, Long Beach and of course Ameriquest. They tosses out the matrix and expanded the stated income/no doc program (intended only for the self-employed who had trouble showing their income) to W2 borrowers. Lenders had to toss out the matrix to compete and stay in compliance with the CRA. This easy money policy artificially SKYROCKETED home values at rates never seen in history. The CRA is the MAIN CAUSE!

(2) Secondary Culprit: Fannie Mae and Freddie Mac powers extended! FM and FM were started in the 30s, but under Clinton their powers were expanded to create an artificial secondary mortgage market. This allowed fly-by-night lenders to write toxic loans, make a killing up front and sell then nearly instanteously for another killing. The original lender didn't care, because they made a huge profit, but took none of the risk. There is a reason that the record for the biggest loses any corp has taken in history has been FM and FM starting in '08, then beating it in '09, '10,'11 and '12. More toxic loans were created by this boneheaded protection than are measurable.

(3) Third Culprit: Repeal of Glass-Steagall Act. In GLB, an very good regulation whose aim was to protect privacy and it did, a tiny section of the act repealed Glass-Steagall. None of the three creators place this in the bill, it was brought through by compromise with others. It was an after throught and not the main theme or goal of the law. Nevertheless it was very impactful. It torn down a protection that was in place to prevent a conflict of interest between commercial banks (lenders), insurance companies and investment banks (brokerages). Horrendous idea that lead to lenders making toxic loans and brokers bundling many of these loans together into a new investment called the CDO stamping a triple AAA rating on them and selling them to well suckers!

(4) Other problems: Student Loans made nondischargable. More free money causes the product to skyrocket. College tuition have increase more since this bill than any product in history, it's destorying the inflation rate and creating minions of slave debtors to the government! College used to be expensive but affordable to middle class families, now it cost as much as a house and is NOT affordable to most middle class families!

NAFTA, China into WTO and removing trade barriers with China - All eroded the manufacturing sector making so much competition for high paying service jobs that employers could remove job security and under-pay for these jobs!

The snow-ball was pushed down the hill on Clinton's watch, but Bush ignored it and Obama is doing the same!

 

[g5000]

Apparently from all the hem and haw from the right here today,

an economy creating a quarter million jobs a month, with a stock market hitting new highs, and with government shrinking,

that's not the kind of world conservatives want.

What do you people want?

UnConservatives want the economy to fall farther off the cliff than Bush shoved it, and they want Obama to finally admit he is a Kenyan-born Trinity United Church of Christ worshipping Muslim who murdered Ambassador Stevens, a US citizen, with a drone while smoking a cigarette on the golf course with his fat-assed negress wife on vacation (paid for by the US taxpayer) with their 54 Christmas trees. And if Osama bin Laden turned up with a briefcase full of ObamaPhones at Muslim Brotherhood HQ, that would be icing on the cake.

 

[JWBooth]

black people to disapear

disawhat?

If disappear is what you have in mind, then to what do you attribute the disappearance of black folk from the work force? Administration policy? After all, the great and powerful O is responsible for the sun rising in the morning and fully stocked shelves at the package store you frequent.

 

[edthecynic]

Perhaps I am looking at this all wrong...


Headline should read:

Sequester Success: report of gains in Employment

Another fine example of the absolute stupidity of the Misinformation Voter!!!!

The sequester started March 1 and the jobs report was for February, so apparently the sequester is also a time machine!!!
Of course, no Misinformation Voter is smart enough to know that march comes after February, so they will still believe the now GOP sequester again did it. That's right folks, the GOP are taking credit for the sequester again, at least until something bad happens, then it is Obama's sequester again.

Sarcasm usually doesn't go over your head.

That's because it only became "sarcasm" after you found your foot stuck in your mouth.

 

[g5000]

"Bush" wasn't losing any jobs. The Democratic Congress was losing jobs.
Keep up much?

You've been blaming Obama for the unemployment rate. Don't pretend Bush never existed and change your tune when it comes to him.

Bush blew it. Everyone knows it.

The mortgages that blew up had three year fuses. They were lit on Bush and the GOP Congress's watch.

Christ, some of you act like Bush was just occupying a chair and not responsible for anything.

A three year fuzz? Get a clue the snowball down the hill started under Clinton:
(1) Main Culprit: Community Reinvestment Act - Like communism it's good on paper, horrendous in practice. This law forced banks to lend a certain percentage to lower income individuals and minorities or loss tax benefits, face fines and other punitive measures. Banks were forced to give away money to people less likely to be able to pay it back. The lenders are too blame also, but fly by night subprime lenders sprung up like Fremont, New Century, Long Beach and of course Ameriquest. They tosses out the matrix and expanded the stated income/no doc program (intended only for the self-employed who had trouble showing their income) to W2 borrowers. Lenders had to toss out the matrix to compete and stay in compliance with the CRA. This easy money policy artificially SKYROCKETED home values at rates never seen in history. The CRA is the MAIN CAUSE!

(2) Secondary Culprit: Fannie Mae and Freddie Mac powers extended! FM and FM were started in the 30s, but under Clinton their powers were expanded to create an artificial secondary mortgage market. This allowed fly-by-night lenders to write toxic loans, make a killing up front and sell then nearly instanteously for another killing. The original lender didn't care, because they made a huge profit, but took none of the risk. There is a reason that the record for the biggest loses any corp has taken in history has been FM and FM starting in '08, then beating it in '09, '10,'11 and '12. More toxic loans were created by this boneheaded protection than are measurable.

(3) Third Culprit: Repeal of Glass-Steagall Act. In GLB, an very good regulation whose aim was to protect privacy and it did, a tiny section of the act repealed Glass-Steagall. None of the three creators place this in the bill, it was brought through by compromise with others. It was an after throught and not the main theme or goal of the law. Nevertheless it was very impactful. It torn down a protection that was in place to prevent a conflict of interest between commercial banks (lenders), insurance companies and investment banks (brokerages). Horrendous idea that lead to lenders making toxic loans and brokers bundling many of these loans together into a new investment called the CDO stamping a triple AAA rating on them and selling them to well suckers!

(4) Other problems: Student Loans made nondischargable. More free money causes the product to skyrocket. College tuition have increase more since this bill than any product in history, it's destorying the inflation rate and creating minions of slave debtors to the government! College used to be expensive but affordable to middle class families, now it cost as much as a house and is NOT affordable to most middle class families!

NAFTA, China into WTO and removing trade barriers with China - All eroded the manufacturing sector making so much competition for high paying service jobs that employers could remove job security and under-pay for these jobs!

The snow-ball was pushed down the hill on Clinton's watch, but Bush ignored it and Obama is doing the same!

Only completely ignorant doofuses blame the CRA. Seriously.

 

[edthecynic]

Wait for the revised number and the labor force participation rate... We are still at historic lows on labor force participation

Which is a completely meaningless number because we also have historic numbers of Boomers retiring. But the more meaningless the number the more meaningful to the Misinformation Voter!!!

 

[GHook93]

Wasn't the payroll tax expiring supposed to hurl us back into recession?

Or was it that miniscule tax hike on the so-called 'job creators'?

btw, note that this good number occurred despite more government job cuts.

Earth to stupid. The payroll expiration was on the worker, the employer never got a holiday. And yes, retail sales were hit hard!

If you had a job you would know this!

 

[DiamondDave]

Wait for the revised number and the labor force participation rate... We are still at historic lows on labor force participation

Which is a completely meaningless number because we also have historic numbers of Boomers retiring. But the more meaningless the number the more meaningful to the Misinformation Voter!!!

Yeah... it is ONLY retirees.. NOTHING to do AT ALL with the people coming off the unemployment books when they give up looking for work

My God are you brainwashed

 

[rightwinger]

Great News for the Country!

(bad news for republicans)

Bad for resepublicans?

Why?

Becuase they were right?

They said "stop trying to stimulate the economy with temporary jobs and let it happen on its own."

So what happened?

700 billion in sitimulus....no net jobs gained for 3.5 years.

No new stiumulus over the last 3.5 years, and finally some up ticks.

Bad day for stimulus supporters if you ask me.

Most Americans will give BHO the credit for a recovering economy in the second term. Voters have short memories.

Of course Obama will get the credit. That is why month after month, on every positive economic indicator our conservatives try "the economy still sucks" denials

Republicans have hung their hat on "Obama is the worst president in history and he will destroy our economy"

The economic numbers don't support it

 

[JustSomeGuy]

So 130K people drop out of the labor force, we lose 77K full time jobs and replace them with 102K part time jobs? Well, at least more people are at work.

...Oh, wait. They're not, since the big increase in jobs come from people work two or more of them simultaneously, and not unemployed/discouraged workers finding work.

As a country, we're fucked.

 

[pinqy]

Wait for the revised number and the labor force participation rate... We are still at historic lows on labor force participation

Not even close. Current LF participation rate of 63.5% is higher than anytime before November 1978. While true that it hasn't been this low since September 1981, the rate has been dropping since 2000.

 

[edthecynic]

From the BLS Employment Situation Summary Table A:

Total Civilian Noninstitutional Population increased by 165,000
The Civilian Labor force DECREASED by 130,000
The Labor Force Participation Rate decreased by .1% down to 63.5% (it was 63.9% a year ago)
The Number of Total Employed increased by 170,000
Total Not In The Labor Force increased by 296,000

126,000 more people gave up looking for work than found jobs.

This is why we have the eensy teensy decline in U3 Unemployment from 7.8% to 7.7%.


Employment Situation Summary Table A. Household data, seasonally adjusted

Same lie, different day. The Misinformation Voter is too stupid to know that there are many more reasons than discouragement for leaving the workforce, like retirement, disability, death, school, staying at home to care for children or sick and aging family members, etc. To the Misinformation Voter the only reason someone leaves the workforce is they gave up looking out of discouragement.

 

[JakeStarkey]

Not to the extent you would hope, RW.

However, the nice thing for the Pubs is that now their bad old neo-con and neo-econ ways have been repudiated, they will have to reach out sincerely for women and minorities. If they do that sincerely in 2014, my GOP will be in the race in 2016 to take the WH and the Senate.

 

[g5000]

When unemployment hits 6 percent, and GDP growth is 3 percent, the deluded will still be trying to find ways to deny reality.

 

[Sallow]

Job creation broke out in February, with the economy creating a net 236,000 new jobs as the unemployment rate fell to 7.7 percent.

Private job creation stood at a robust 246,000, finally indicating that the economy may be ready to escape the tight growth range in which it has been held since the financial crisis.


Job Creation Surges as Rate Falls to 7.7%

What the hell kind of jobs would be created in February? Snow shoveling?

Without knowing it..you've brought up a good point.

Every president before Obama was able to send States funding to hire police, firemen and other state/municipal workers.

That did two things.

Kept unemployment down.
Kept city and states in good order.