US jobs recovery is astonishingly underwhelming

US jobs recovery is astonishingly underwhelming. The details of the February jobs report were nothing to get excited about, with 175,000 net payroll jobs added and an uptick in the unemployment rate to 6.7% from 6.6%. Way back in late 2011, the pace of annual job creation reached around 2 million; the precise number being 2.083 million jobs. For the 12 months ended February 2014, the equivalent number was 2.158 million. In the intervening two-plus years, the annual rate of job creation has never fallen below 2.025 million and never reached above 2.462 million. The pattern is strong enough and well-entrenched enough that policy makers, seem to accept the pattern as good enough. The Fed in particular is almost certain to continue tapering its program of bond buying at its March meeting after a jobs number that reaffirms their projections of continued economic improvement. Read More: (VIEW LINK)


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