The Market Ticker
Commentary on The Capital Markets- Category [Employment]

Oh this is rich....

Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining was down over the month.

Let's see what we find in the (relatively uncooked section) of the data.

This raw data looks pretty good; 566,000 jobs, according to the household survey, were added and the change in not-in-labor-force was very close to zero.

But -- the annualized change less the workforce addition rate remains tiny -- positive, but very small, at only 170,000.

This, unfortunately, means that despite the so-called "headline" unemployment number moving down (strongly!) the population:employment ratio, which is the only figure that matters when it comes to government funding sustainability as you can only tax working people, remains in the ditch.

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