More economic recovery:

[underlankers.livejournal.com]

http://www.bbc.co.uk/news/business-12648347

 

The US unemployment rate fell slightly to 8.9% in February, down from 9% the month before.

It is the third month in a row that the jobless rate has fallen, with February's figure marking a near two-year low.

Employers added 192,000 jobs last month, the US Labor Department said, above market expectations.

Paul O'Neill, former US Treasury Secretary, described the data as "very positive".

A Labor Department statement said that most job gains were in manufacturing, construction, business services and transport.

State and local government slashed 30,000 jobs, the most since November as budget cuts continue to bite.

The data showed that the jobless rate for adult men was 8.7%, for adult women 8%, and for teenagers 23.9%.

The unemployment rate has come down from 9.8% in November.

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I'll be the first to admit that this is not what the Obama Administration predicted or really wanted when they wanted unemployment to stay where it was when they were inaugurated. However looking at this, the unemployment figures appear to be showing more, and more effective, growth since the Administration's stimulus package has gone into effect. It makes me curious in fact whether or not a larger stimulus package would have had more effect. What do you guys think?

Comments

[mijopo.livejournal.com]

Well, the latest recession did hit Canada, of course, but it wasn't nearly as severe because (a) they hadn't been running deficits during the relative economic prosperity earlier in the decade and (b) more tightly regulated banks. In terms of responding to the crisis, Canada also engaged in some deficit spending aimed at stimulating the economy but, as in the US, it was fairly muted and as in the US, is now being rolled back, probably far too early.

[underlankers.livejournal.com]

Ah. Well, both of those things make sense.

[frodomyhero.livejournal.com]

They also aren't fighting 2 wars and all the costs of that.