Posts Tagged ‘February Jobs Report’

Awful News for Republicans

Sunday, March 11th, 2012

In awful news for Republicans, things are getting better in this country.

Courtesy of Steve Benen, here’s a color coded chart of private sector job growth since the beginning of the Great Recession.

That makes 24 straight months of private sector growth and this month’s report was extremely positive.

While the employer survey shows that the economy created 227,000 new jobs last month, the household survey shows an increase of 428,000 jobs. The unemployment remained at 8.3%, but that’s only because almost a half a million more people started looking for work last month. Being able to maintain the same unemployment rate while absorbing another half a million people is a very encouraging sign.

Of course, all the usual caveats apply: it’s a giant hole we’re in, we’ll need to sustain these gains for much longer to get back to pre-bubble levels, we had good job growth early last year before Fukushima, the Tea Party Downgrade and the Greek Debt Crisis, and economists are forecasting a smaller growth rate for the rest of the year, which may dampen the rate of increase. Still, we’re off to a good start this year, and there’s finally a sense that we might be emerging from this mess.

Meanwhile, faced with this overwhelmingly positive news, the Republicans either ignored it or denied it, which once again shows how much of a stake they have in things not improving.