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Thread: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

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    Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 percent, bolstering views the labor market was on the brink of creating jobs.

    The White House on Friday blamed February snowstorms for a labor report showing employers cut 36,000 jobs last month and said a pattern of stabilization and gradual healing is in fact taking place.

    White House senior economic adviser Christina Romer said in a statement that the overall trajectory of the U.S. economy appears to be continuing to improve although there will be bumps on the road.

    The Labor Department report showed the percentage of Americans without a job last month at 9.7 percent, identical to the January figure.

    Echoing a view from many analysts in recent weeks, Romer said: "The large snowstorms in the Mid-Atlantic region in mid-February likely had a substantial negative impact on this number."

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    This is a contrast from the majority of economic analyst's expectations. Even with the snow storm that blanketed much of the Northeast (and shut down DC), the unemployment rate held strong signaling some upward pressure in the labor market. Of course the census has provided a helping hand, but in the coming months i expect job creation to gain some serious momentum (especially with a jobs bill or three )
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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Well the rightwing better hope there is no trend towards lower unemployment. Or get some good spin going... if Obama straightens this economy out repubs are going to be in trouble... Clinton - Bush - Obama - two successful dem Presidencies with a Repub failure in between will be bad news for the GOP.

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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    When they pass healthcare, you can good bye to your economy fix.
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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by Goldenboy219 View Post
    News Headlines


    This is a contrast from the majority of economic analyst's expectations. Even with the snow storm that blanketed much of the Northeast (and shut down DC), the unemployment rate held strong signaling some upward pressure in the labor market. Of course the census has provided a helping hand, but in the coming months i expect job creation to gain some serious momentum (especially with a jobs bill or three )
    Jobs are coming back but in every economic turn around jobs always lag behind everything else.
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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    indeed; i think everyone is hoping for some downturn in the unemployment numbers. the census will help, as will the general summer months; but lots of that is temporary employment; and we shall see where we are in the fall.

    frankly, even though employment always lags, we are past due for some serious job growth.

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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by NoJingoLingo View Post
    Well the rightwing better hope there is no trend towards lower unemployment. Or get some good spin going... if Obama straightens this economy out repubs are going to be in trouble... Clinton - Bush - Obama - two successful dem Presidencies with a Repub failure in between will be bad news for the GOP.
    Because lord knows that the political impact of these numbers is what's really important.
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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by American View Post
    When they pass healthcare, you can good bye to your economy fix.
    You can say good bye the economy if we don't fix our Healthcare system.

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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by NoJingoLingo View Post
    You can say good bye the economy if we don't fix our Healthcare system.
    Quite true. Too bad the fix has nothing to do with the Democrats' health care bill.

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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by Ethereal View Post
    Quite true. Too bad the fix has nothing to do with the Democrats' health care bill.
    I understand that the right would rather do nothing but for Pete's sake, some things need to get done in this country. I don't care which party does it but we know the GOP won't do squat so I can only hope the dems can squeeze out a little something for the nation in between corporate welfare/giveaways.

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    Re: Jobless Rate Holds at 9.7%; Weather Cited in Job Losses

    Quote Originally Posted by RightinNYC View Post
    Because lord knows that the political impact of these numbers is what's really important.
    It works both ways sadly. Some on the right would love to see Obama fail to have a better chance in the next election, screw the success of the country.

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