• 8.9% the unemployment rate in February, the lowest it’s been in over two years
• 192k the increase in nonfarm payrolls – the biggest monthly leap since May
• 58k the jump in January’s payroll numbers in revised estimates source

• » Why this jump is a pretty big deal: Simply put, this is all private-sector growth, meaning that business are hiring again. It’s not nearly as quick as economists want it, but the growth is promising, so they’ll take it. Also worth noting – the jump in jobs last May was due to the Census, which means that those were here-today-gone-tomorrow-type jobs. This is actual, real growth. Hopefully it keeps up.

Posted by Ernie Smith • Permalink