The BLS released its employment report for February this morning:
Nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 per cent, the U.S. Bureau of labour Statistics reported today.
Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing.
The private sector is doing OK. Not great, but OK. But state and local government cutbacks in spending are doing a pretty good job in making a noticeable dent in the recovery of the US job market. Headwinds indeed.
Here’s a bit of detail (figures in thousands):
Photo: Angry Bear