Amid signs of turmoil overseas, the U.S. economy keeps chugging along.
The U.S. economy gained 295,000 jobs in February, the 13th consecutive month employers added more than 200,000 to their payrolls. Meanwhile the unemployment rate dropped to 5.5%.
This is yet another sign of an improving — or what economists would call a “tightening” — labor market.
The rate at which workers are quitting their jobs has risen near levels not seen since before the 2007-2009 recession, implying that workers are feeling more secure that better opportunities lie ahead.
The number of unemployed workers who’ve been out of work 27 weeks or longer, while still high, is 31.1%, compared with 36.8% a year ago. Average hourly earnings grew by 0.1% last month, after rising 0.5% in January. Wages are up 2% over this time 12 months ago. That’s being be read by many analysts as a relatively sluggish number.
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This is yet another sign of an improving — or what economists would call a “tightening” — labor market.
The rate at which workers are quitting their jobs has risen near levels not seen since before the 2007-2009 recession, implying that workers are feeling more secure that better opportunities lie ahead.
The number of unemployed workers who’ve been out of work 27 weeks or longer, while still high, is 31.1%, compared with 36.8% a year ago. Average hourly earnings grew by 0.1% last month, after rising 0.5% in January. Wages are up 2% over this time 12 months ago. That’s being be read by many analysts as a relatively sluggish number.
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6 comments:
The unemployment number will continue to decrease because the number of people dropping out to the work will will continue to rise! The losers in DC make it too easy to quit working.
You will see the employment jump like crazy in 2 months , grass cutting will start and the minority people will be off welfare and unemployment.
let's see if my maths are good.
5% unemployment rate, but 31% of workers have been unemployed for over 27 weeks?
figures don't lie, but liars figure.
The comments that have additional support don't get posted. Not all facts see the light here.
Check out this link I read from the Drudge Report:
http://cnsnews.com/news/article/ali-meyer/628-labor-force-participation-has-hovered-near-37-year-low-11-months
I work with the unemployed, and can tell you the unemployment rate is more like 60 to 70%. A great deal of the working public out there are working 30 hours or less and are being paid only minimun wage.
My brother is one of them. He went from 25 per hour as a manager at Superfresh to only minimum wage at Giant doing basically the same job and he is desperately looking for a full time job, but is running into difficulty because he is now 54 and there is age discrimination out there if you are over 40.
It's no wonder people are angry at the public sector like the BOE who have full time jobs with above average pay, and us, the working poor are being taxed to death to help pay for their high salaries!!!!!!!!
These statistics are just SO MUCH BS..
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