Jobs Thaw?

After the last two months of decidedly underwhelming jobs reports, the February edition released today by BLS was something of a pleasant surprise. The 175,000 net new jobs exceeded expectations (the consensus prediction was around 150,000), and there were small upward revisions of the December and January numbers.

As always, the unemployment rate will get more general-public attention than the jobs numbers, and the small and essentially meaningless uptick from 6.6% to 6.7% will be what most Republicans talk about.

The bigger picture is that economists are very conflicted about the impact of this winter’s unusually bad weather on the numbers, and what that might mean for the underlying strength or weakness of the economy. So there’s a great deal of anticipation of the March and April jobs reports as perhaps resolving some of those arguments.

Washington Monthly - Donate today and your gift will be doubled!

Support Nonprofit Journalism

If you enjoyed this article, consider making a donation to help us produce more like it. The Washington Monthly was founded in 1969 to tell the stories of how government really works—and how to make it work better. Fifty years later, the need for incisive analysis and new, progressive policy ideas is clearer than ever. As a nonprofit, we rely on support from readers like you.

Yes, I’ll make a donation

Ed Kilgore

Ed Kilgore is a political columnist for New York and managing editor at the Democratic Strategist website. He was a contributing writer at the Washington Monthly from January 2012 until November 2015, and was the principal contributor to the Political Animal blog.