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

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    Payrolls in U.S. Climb 227,000; Jobless Rate Holds at 8.3%

    While the unemployment rate is still at 8.3%, it seems as though an honest recovery is taking place. There has been 24 months of straight private sector growth. There were 233K private sector jobs created in Feb, but a loss of 6K in the public sector brought the total down to 227K jobs.

    Payrolls in U.S. Climb 227,000; Jobless Rate Holds at 8.3% - Bloomberg

    "Employers in the U.S. boosted payrolls more than forecast in February, capping the best six- month streak of job growth since 2006 and sending stocks higher.

    The 227,000 increase followed a revised 284,000 gain in January that was bigger than first estimated, Labor Department figures showed today in Washington. The median projection of economists in a Bloomberg News survey called for a 210,000 rise. The jobless rate held at 8.3 percent, even as 476,000 more workers sought employment.[...]

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

    Quote Originally Posted by pbrauer View Post
    While the unemployment rate is still at 8.3%, it seems as though an honest recovery is taking place. There has been 24 months of straight private sector growth. There were 233K private sector jobs created in Feb, but a loss of 6K in the public sector brought the total down to 227K jobs.

    Payrolls in U.S. Climb 227,000; Jobless Rate Holds at 8.3% - Bloomberg
    "Employers in the U.S. boosted payrolls more than forecast in February, capping the best six- month streak of job growth since 2006 and sending stocks higher.

    The 227,000 increase followed a revised 284,000 gain in January that was bigger than first estimated, Labor Department figures showed today in Washington. The median projection of economists in a Bloomberg News survey called for a 210,000 rise. The jobless rate held at 8.3 percent, even as 476,000 more workers sought employment.[...]
    The silence from the "we are all doomed crowd" is deafening.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Kushinator View Post
    The silence from the "we are all doomed crowd" is deafening.
    They're all over at intrade placing bets on Obama.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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

    Quote Originally Posted by AdamT View Post
    They're all over at intrade placing bets on Obama.
    The odds must be akin to playing the lottery after this latest jobs number.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Kushinator View Post
    The silence from the "we are all doomed crowd" is deafening.
    Seriously, I think the folks on the Right are looking for bad news. In the last 2 years businesses have added nearly 4 million jobs. And Romney continues to say Obama made the recession worse.

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

    Quote Originally Posted by pbrauer View Post
    Seriously, I think the folks on the Right are looking for bad news. In the last 2 years businesses have added nearly 4 million jobs. And Romney continues to say Obama made the recession worse.
    I don't understand... you say the folks on the Right are looking for bad news... and then you tell us bad news in the very next sentence - that job growth can't even keep up with growth in the population. Yes, we have an "honest recovery" by definition of the term. A horribly anemic, limp-wristed recovery, but an honest one.


    Psst.... In this economy, the folks on the Right are looking for any good news they can get after months and months of hearing "at least we aren't freefalling anymore."

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

    Token rightie here. I'll be the first to say this is good news (like I do on every single one of these threads). It's interesting as you see the U3 rate hold steady while the LFRP, E-P, and U6 numbers all improved. The main contention with previous releases was that the improvement in U3 was driven by a deterioration in the LFPR. The fact U3 didn't increase given the higher labor force participation is definitely a good thing.

    Now, if I'm forced to play devil's advocate and be as pessimistic as possible I would point to... nothing. It all looks pretty sweet. Of course zerohedge is bearish on it but they would find a pimple on an angel. Here is their take:

    The Part-Time Economy (Redux) | ZeroHedge
    https://twitter.com/#!/zerohedge/sta...65087889514496

    Another analysis by a bear site:

    charles hugh smith-Weblog and Essays

    That said I'm surprised the market reacted so meekly.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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

    Quote Originally Posted by pbrauer View Post
    Seriously, I think the folks on the Right are looking for bad news. In the last 2 years businesses have added nearly 4 million jobs. And Romney continues to say Obama made the recession worse.
    Any party that is seeking election will downplay good economic news under the incumbent. The left did the same thing under Bush. The fact this recovery has been so weak just gives Republicans a campaign platform to run on.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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

    Quote Originally Posted by AdamT View Post
    They're all over at intrade placing bets on Obama.
    Were gonna miss conservative...this would be right in his wheelhouse.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Why so serious?

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

    Definitely good news. I hope it continues so people can get back to work and take care of themselves and their families.
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

    --Albert Einstein, 1929

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