[copious.abundance]

Employment Report: PRETTY GOOD!

Payrolls Up 192,000, Near Estimates; Rate Falls to 8.9%
Published: Friday, 4 Mar 2011
By: Reuters

U.S. employers hired more workers in February than in any month since May last year and the unemployment rate fell to a near two-year low, the strongest sign yet the recovery has become self-sustaining.

Nonfarm payrolls increased 192,000, the Labor Department said on Friday, in line with expectations. Data for December and January was revised to show 58,000 more jobs created than previously estimated.

The last time payrolls grew so much was last May, when the government's hiring of temporary workers for a census boosted payrolls hugely.

As in previous months, the private sector accounted for all the job gains in February, with an addition of 222,000 positions—the largest gain since April 2010. That was up from 68,000 in January.

The unemployment rate dipped to 8.9 percent, the lowest since April 2009, from 9.0 percent in January as more people reported finding work.

[...]

[vision-master]

Employment or slavery oily. How many of these 'new' jobs are low-wage, part-time, non-benefit earning jobs. Tell us the facts oily.

[Lore]

Income earnings remained UNCH. Which is good for inflation, but bad for the long term outlook with oil above $103 this morning.

[copious.abundance]

Employment or slavery oily. How many of these 'new' jobs are low-wage, part-time, non-benefit earning jobs. Tell us the facts oily.

It's not hard to check for yourself

Total nonfarm payroll employment rose by 192,000 in February. Job gains occurred in manufacturing, construction, and several service-providing industries. Since a recent low in February 2010, total payroll employment has grown by 1.3 million, or an average of 106,000 per month. (See table B-1.)

Manufacturing employment rose by 33,000 in February. Almost all of the gain occurred in durable goods industries, including machinery (+9,000) and fabricated metal products (+7,000). Manufacturing has added 195,000 jobs since its most recent trough in December 2009; durable goods manufacturing added 233,000 jobs during this period.

Construction employment grew by 33,000 in February, following a decline of 22,000 in January that may have reflected severe winter weather. Within construction, specialty trade contractors accounted for the bulk of the February job gain (+28,000).

Employment in the service-providing sector continued to expand in February, led by a gain of 47,000 in professional and business services. Employment services added 29,000 jobs, and employment rose by 7,000 in management and technical consulting. Within employment services, the number of jobs in temporary help services edged up over the month.

Health care employment continued to increase in February (+34,000). Over the prior 12 months, health care had added 260,000 jobs, or an average of 22,000 jobs per month.

Transportation and warehousing employment increased by 22,000 in February, with half of that gain in truck transportation (+11,000).

Employment in both state and local government edged down over the month. Local government has lost 377,000 jobs since its peak in September 2008.

[Buggy]

Yup. Pretty DARN good Oily. Sure can't argue with the government's math. Just imagine Bernanke, the most powerful man in the world is Philo Beddoe and the BLS is Clyde the Orangutan. Ben knows to keep up his illusion of a recovering economy enemployment must look like it's improving. So, "RIGHT TURN CLYDE!" And Clyde socks the 99 weekers right in the mouth. That's right, before you post up crap like the completely fabricated BLS statistics do you own friggin' math. Count back 99 weeks and find out how many people filed for initial unemployment (hint, 99 weeks ago the initial unemployment claims came in at 650,000). Take that number and subtract the 192,000 number that came out today. Surprise, surprise. We are negative and the real unemployment number is over 20 percent. If you really want to do some work, go back to the initial crash and add up the initial unemployment claims from every week until now. Then add up all the initial employment numbers from the same time period and subtract that number. I would be curious to find out just how many unemployed people there actually are.