Jobs and Politics - February Numbers

From: February Job Gains Create A Wrinkle in Presidential Race

U.S. jobs increased significantly in February after a very strong January. This could create an interesting political wrinkle for Republicans running for president. Simply blaming President Obama for the economy is losing it's punch. The Republican candidate needs to explain why less regulation and lower taxes will make the economy stronger. A few months ago some Republicans thought they'd simply be able to point to the economy and win the election. That no longer appears the case. The economy is not the only issue, but if the Republican candidate doesn't win that issue, it seems unlikley that they'll have much of a shot next November.

U.S. gains 227,000 jobs in February

"The unemployment rate was unchanged at 8.3% as nearly half-a-million workers reentered the labor force in search of jobs, the Labor Department reported. That’s usually a good sign because it means people believe more work is available.

The increase in nonfarm jobs topped 200,000 for the third straight month, which reinforces the view of an economy gathering strength as 2012 unfolds. The past three months of full-time job growth — aided by unusually warm winter weather — is the fastest since the end of the 2007-2009 recession and marks the best performance since early 2006.

The influx of new jobs is also pumping more cash into the economy in the form of wages and salaries, generating fresh demand among consumers for the goods and services that businesses produce. Consumer spending accounts for 70% of U.S. economic growth.

If that keeps up, businesses might have to hire more workers to meet the rise demand, further underpinning the economic recovery.

Improved job growth exceed Wall Street estimates. Economists surveyed by MarketWatch had predicted an increase of 213,000 jobs on a seasonally adjusted basis, with unemployment holding steady at 8.3%. "

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