Unemployment Rate Down to 5.6%, 212,000 New Jobs

–The unemployment rate drops to 5.6% as 212,000 new jobs are created

–On the Bonus Show: Academic fraud at NCAA schools, Canada starts “Spocking” their $5 bills, the Eiffel Tower gets a wind turbine, more…

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[popey]

If the US economy and labor markets are so great, why do interest rates need to be kept at 0% still? It's been about 7 years of 0% interest rates, the unemployment rate is supposedly doing amazing, when will this "recovered" economy be put to the real test of normal interest rates?

Judging by the Fed Chairwoman's own statement that there is still considerable slack in the labor market, I'm going to say never. Because the economy isn't actually recovered.

[udasu]

Please address income inequality. Thanks as always, David, Louis, great stuff!

[klondike]

Wait until the effects on jobs of the slump in fracking and associated industries kicks in, probably later this year.

[volodospianomus]

OMG, the repubs might blame Obama again....lol

[TheFailmoose]

Unemployment rate is terribly misleading. This rate goes down when people LEAVE the workforce and go into a separate category, the NILF (Not In The Labor Force). Adding unemployment and the NILF together nets you the REAL unemployment rate, which is floating at ~22ish%.
Talking about unemployment without going into details of how its calculated and what it means for the real rate is, as I said, terribly misleading.

[sharrell]

We were losing 500-700k jobs per month when President Obama took office. We're now consistently GAINING 200k+ jobs per month. You are being foolish if you think this hasn't been a real recovery.

Also, in recent jobs reports, we've seen some wage growth. I believe this is thanks to the many calls to raise wages by the President, a few Dems, and many protesters.

I don't think the problem is just about having too many low wage jobs. I believe some of these same jobs that are now considered low wage, at one point, were viable. The problem is that a dollar doesn't go as far as it once did. So we have to make sure wages keep up with cost of living. 

It's true that some higher paying jobs have been lost due to advancements in technology and outsourcing. The former isn't going to stop, but the latter must atleast slow down. That's why so many oppose any new trade deals. 

Some jobs have disappeared almost completely due to the change in times, but I do know there are still plenty of good jobs out there in technology and healthcare. When I talk to some of my unemployed or underemployed friends and relatives. What I find is that they often either overrate their worth, lack training or education, or they aren't willing or able to be flexible enough to relocate for a job or step outside of a specific industry. I definitely know it's not easy trying to find a new job/career, but there is FAR more opportunity out there now than when I was actively searching during the peak of the recession. I couldn't even find a min wage job 5 or so years ago as a college kid. Now, I see Now Hiring signs everywhere. Like, where was that when I needed it? But thankfully, I was hired for a well paid position in my field only a few months after graduating.

So, it's frustrating when I see people acting completely oblivious or try to discredit the progress that's been made. Alot of progress has been made and even more could be made if we had an even mildly functioning Congress.

[TravisCollierMath]

It was actually revised upward to 295, 000 new jobs, with an employment rate of 5.5%

[volodospianomus]

I will speak facts now. I spoke to my doctor upon making an appointment, and then I spoke to my uncle wbo is a surgeon. My doctor told me as did my uncle, that they have been busier due to the implementation of Obamacare, so much so that both of them had to hire and train new full-time employess. This takes into account just two doctors at random who I know, so what about doctors in the rest of the country. As my uncle told me, "there is no way that their business has not increased."

[lota]

Jobs Report: U.S. Economy Added 295, 000 Jobs In February, Unemployment Down To 5.5% (MUCH BETTER THAN EXPECTED).

[cyborganic]

People who are complaining that jobs aren't out there aren't looking. 

[ppoint]

Interesting. I can't wait for this interview.

[MalcrowAlogoran]

Yes! Moar part timers and minimum wagers!

[SocialistSkeptic]

Richard Wolff has an interesting take on this, a lot of the new jobs are low income and part time jobs, and they have a variety of statistical tricks to discount a lot of people who are unemployed, and don't count the marginally employed and dependents who fall back on family members and become so discourage that they no longer report to be actively seeking employment.

Besides that, most jobs that people do are worthless serving no purpose other than to enrich bosses, and even still most jobs can be easily mechanized or automated and that is the clear established trend. Anyone who's taken a trip to a warehouse store is likely to have already seen the self checkout booths, and right now they're only testing it to see how much money they can save. We need to start seriously discussing a guaranteed basic.