Brand new jobs statement indicates unemployment dropped in Feb.

Unemployment has declined by an unimpressive percentage in the recently issued Feb. jobs report. Joblessness dropped 0.1 % through February to 8.9 %. Joblessness has dropped for the past three months in a row. Post resource – February jobs report shows decline in unemployment by MoneyBlogNewz.

Companies incorporating jobs

There was a small increase in Feb. in the number of jobs according to the Department of Labor's Feb. jobs statement. CNN reports that from Jan to Feb., the unemployment went down to 8.9 % from 9 percent, a 0.1 percent decrease. There were a lot more jobs included to the sector improving quite a bit from January. About 192,000 jobs were added. In Jan, employers included 63,000 jobs to the overall economy, however January was slower than Feb. as winter weather brought several areas to a near standstill, according to the LA Times. About 50,000 new jobs weren't reported in the Dec. and Jan jobs states. This was what the Labor Department said with a revised report.

Decreasing joblessness shown for a 3rd sequential month

The unemployment rate has declined for the 3rd month in a row. Throughout the recession, there have been drops and gains in the unemployment pace over and over. This seems different though considering there was almost an entire percentage pace drop in unemployment from December to Feb.. There were only 368,000 unemployment claims. That is a three year low. Much more than 9 million people are claiming joblessness benefits, in accordance with Forbes. The economy is projected by the Federal Reserve to grow between 3.5 and 4 percent during 2011, though increasing gas prices are sure to trigger some hiccups over the next few months.

Restoration can be hard with government spending reductions

CBS states that reducing the federal budget is a goal that many Republicans have in mind although economists are worried that might hurt the joblessness rate some more. Moody's Analytics' Mark Zandi thinks that a $61 billion cut from the federal spending budget, as planned, could end up a job loss for 700,000 people. This projection was mirrored fairly closely by Goldman Sachs. You should remember that Zandi claimed that the stimulus spending would allow joblessness to stay under 8 percent while being one of probably the most supportive people of the stimulus packages.

Articles cited

CNN

cnn.com/2011/03/04/news/economy/february_jobs_report/

Los Angeles Times

latimesblogs.latimes.com/money_co/2011/03/february-unemployment-jobs-economy-recovery-obama.html

Forbes

blogs.forbes.com/heatherstruck/2011/03/04/jobs-report-at-high-end-of-expectations-unemployment-drops-to-8-9/

CBS News

cbsnews.com/8301-503544_162-20037435-503544.html