The US economy added 243,000 jobs in February. Sounds good, doesn’t it?
But wait, what’s this:
The monthly report showed the unemployment rate edged up to 4.8 percent from 4.7 percent in January.
Hmmmm…. The economy added 243k new jobs, but the unemployment rate increased? How can that be?
The February job gain followed a revised 170,000 new jobs in January that had originally been reported as 193,000.
Hey, the Bush Assministration wouldn’t monkey around with the monthly jobs numbers would they?
OK, so maybe they overestimated a bit in January. And maybe February’s 243,000 number will be revised downward next month. But the job market as a whole is doing great. This is the Bush Boom, after all.
The number of Americans filing new claims for unemployment benefits rose unexpectedly last week, to 303,000, the highest level this year, a government report showed on Thursday.