Friday, March 08, 2013


The jobs report for February is out and the news is decent. 236,000 net new non-farm jobs and the unemployment rate is down to 7.7%.

While we've still never had the really big job numbers that historically occur in recoveries, this was a good number in terms of beating expectations.

About the only bad news in the report is that last month's job number was revised downward from 157,000 to 119,000, a 24% downward adjustment.

Given that the confidence interval on these initial numbers is something over  + / - 50,000, we shouldn't get too excited or too upset at any single initial job number.

1 comment:

Anonymous said...

I expected lower numbers, to be honest, because some of the regional reports were not good. For example, Detroit was flat and New York saw a decline. Those are two important regions seeing labor weakness.