News This Morning
From the Bureau of Labor Statistics:
Nonfarm payroll employment was little changed (-36,000) in February, and the
unemployment rate held at 9.7 percent, the U.S. Bureau of Labor Statistics
Various news outlets, commentators, and I think even the White House were ahead of the curve on blaming the February snow storm to account for a less than stellar jobs report. Global Warming! We’re All Gunna DIE! ™
Something that’s going to get little coverage elsewhere though is the bottom-line March numbers. The US Census Bureau has employed thousands upon thousands of temporary workers to go door to door, data entry, and a host of other functions. When the March figures are released, it may show a downward spike in the unemployment numbers.
When that happens, I fully expect the White House to puff up, proclaiming how awesome they are doing at getting Americans Back To Work. Of course, in April and May when those temporary workers are let go, I also fully expect it to be the fault of George W. Bush and eight years of mismanagement.