Friday, February 03, 2012

poco a poco

243,000 net new jobs in January (including 50,000 in manufacturing), November & December of 2011 figures revised up by 60,000, unemployment rate down to 8.3%. Details are here.

Not too shabby.

Net new jobs in the private sector were 257,000 so not only is employment rising but its composition is slowly shifting away from government and toward the private sector. In the last 12 months there has been a net job loss in the government sector of around 275,000 jobs

The net jobs figures for the last three months, after revisions, stand at 157,000 203,000 and now 243,000.

It will be interesting to see how the "austerity is killing us" people will spin this.


John Thacker said...

I believe that they'll focus on the second derivative of jobs. They'll say that the rate of job loss improved up until the Republicans were elected, whereupon the same number of jobs have been added each month.

Shawn said...

there's always the easy "if we'd have been stimulating less, we'd have not done as well as we have..." said differently: "look how pitiful these numbers are! if only we wouldn't have been so stingy!"

you heard it here 10,000,000th, folks.