The Job Picture Continues to Improve

The February Jobs Situation Report was released Friday morning at 8:30 showing continued improvement in the jobs outlook for the U.S. economy.  The Non-Farm Payroll component showed a better then expected loss of 36,000 net jobs in February, the Unemployment Rate dropped to 9.7 percent, and Average Weekly Hours worked improved .1 percent to 33.8 hours per week.  While these numbers are still not indicating growth in the employment sector, they do reveal we are on the right track. 

When taken together with strong productivity numbers, better than expected Factory Orders, and better than expected Initial Unemployment Claims, all released this week, today’s numbers are reason for optimism.  The U.S. dollar has rallied across the board, and equity and bond market participants have responded positively. 

Our economic recovery is still suspect.  However, if this positive trend in economic indicators continues, we can look forward to actual net job growth as we move out of the first quarter and into the second quarter. 

Keep it up America!

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