David Glasner on Microfoundations
Department of "Huh?!": Steady Employment Report Blogging

In a Normal Recovery, This Would Be a Disappointing Payroll Report. But in This Recovery This Is Very Nice to See

BLS: Employment Situation Summary:

Nonfarm payroll employment rose by 227,000 in February, and the unemployment rate was unchanged at 8.3 percent…. The number of unemployed persons, at 12.8 million, was essentially unchanged in February. The unemployment rate held at 8.3 percent…. The number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.4 million in February. These individuals accounted for 42.6 percent of the unemployed. Both the labor force and employment rose in February. The civilian labor force participation rate, at 63.9 percent, and the employment-population ratio, at 58.6 percent, edged up over the month…