Job Growth OK for Now but Sequester Hasn’t Hit Yet
New U.S. Bureau of Labor Statistics data provide some welcome good news, as employers added 236,000 new jobs in February and the unemployment rate dropped from 7.9% to 7.7%. Even though government cutbacks have slowed economic growth over the winter, this drag on the economy has not resulted in slower employment growth.
I wouldn’t break out the champagne yet, however, as the sharp cuts in government spending implemented a week ago today will add roadblocks to recovery.
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This article was originally published in MarketWatch.
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