Official unemployment rate still at 8.3%

The economy added another 227,000 jobs last month, but most analysts are saying that we still haven't turned the corner on the employment problem. New York Times: In yet another sign of a strengthening recovery, the United States added 227,000 net jobs in February, the third consecutive month of gains over 200,000. The unemployment rate was unchanged from 8.3 percent in January, the Labor Department reported Friday, as nearly a half million people who had been staying on the sidelines rejoined the search for work. The strong job growth numbers could bolster President Obama's effort to make the case to voters that his economic policies are working. Job gains in January and December were also stronger than previously reported, revised upward by the Labor Department to 284,000 and 223,000 respectively. Average wages, which many economists were watching closely, ticked up as well, from $23.28 an hour to $23.31 an hour, but still trailed inflation. If growth in hiring is...(Read Full Post)