Payrolls in U.S. Climb 227,000

[NJMaverick]

Quote:Payrolls in U.S. Climb 227,000; Unemployment Rate Holds at 8.3%

mployers in the U.S. boosted payrolls more than forecast in February, indicating companies are growing more optimistic about the expansion. The jobless rate held at 8.3 percent.
The 227,000 increase in payrolls followed a revised 284,000 gain in January that was bigger than first estimated, Labor Department figures showed today in Washington. Job growth over the last six months was the strongest since 2006. The median projection of economists in a Bloomberg News survey called for a 210,000 rise in February employment.

More jobs are helping fuel the wage gains that drive consumer spending, which accounts for about 70 percent of the economy. The latest pickup in employment may not be convincing enough for Federal Reserve Chairman Ben S. Bernanke, who last week said the labor market remains “far from normal,” a sign policy makers continue to see merit in keeping interest rates low for several years.
“Businesses have a bit more confidence about where the recovery is going,” Omair Sharif, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut, said before the report. There’s “a little better feeling that demand for their products will hold up for the next six months or so,” he said.
Payroll estimates from 94 economists in the Bloomberg survey ranged from increases of 125,000 to 275,000 after an initially estimated 243,000 gain the prior month. Revisions added a total of 61,000 jobs to payrolls in December and January.

http://www.bloomberg.com/news/2012-03-09...-8-3-.html

[janedrake]

That's a BFD! In fact, it's such a BFD, that Betty Liu on Bloomberg this morning (who can't seem to get enough of inviting wizened Republican trolls onto the show to talk about the Obama Administration's economic policies) just outright asked Bloomberg's Washington correspondent something along the lines of "Peter, these numbers are quite good, so what are the Republicans saying? How are they going to spin this?"

"Peter" then reported Boehner's gobsmacking lies (paraphrasing, but not much) "We're encouraged to see these numbers, but understand that it's due to hard-working Americans and their entrepreneurial spirit - any jobs that have been created have been in spite of this administration's anti-business policies."

[NJMaverick]

(03-09-2012 09:36 AM)janedrake Wrote:  That's a BFD! In fact, it's such a BFD, that Betty Liu on Bloomberg this morning (who can't seem to get enough of inviting wizened Republican trolls onto the show to talk about the Obama Administration's economic policies) just outright asked Bloomberg's Washington correspondent something along the lines of "Peter, these numbers are quite good, so what are the Republicans saying? How are they going to spin this?"

"Peter" then reported Boehner's gobsmacking lies (paraphrasing, but not much) "We're encouraged to see these numbers, but understand that it's due to hard-working Americans and their entrepreneurial spirit - any jobs that have been created have been in spite of this administration's anti-business policies."

That's going to be a harder and harder sell to make. Especially if people point out the depression we are recovering from was caused by the Republicans

[janedrake]

Hello!

[jaxx]

Excellent news. Jobs growing will help the economy and PBO's reelection.

[jaxx]

Two years of job growth

By Lauren Peterson on March 9, 2012



February marked two straight years of private-sector job growth—including the first year-over-year gains in manufacturing jobs since 1997.

http://www.barackobama.com/news/entry/tw...ART_SIGNON

WhoooHoooo!

[There Is No Spoon]

Just as important is the unemployment rate not growing in this report.

All the jobs in the world wouldn't help if it even rose by 0.1%.

As it was expected to go up, this shows that the drop may not be a fluke and the rate may indeed drop into the 7's by November, virtually ensuring an Obama win.