{"id":3699,"date":"2011-03-04T06:45:05","date_gmt":"2011-03-04T13:45:05","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=3699"},"modified":"2018-09-21T02:08:00","modified_gmt":"2018-09-21T06:08:00","slug":"unemployment-data-for-februaray-are-better","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/03\/04\/unemployment-data-for-februaray-are-better\/","title":{"rendered":"Unemployment Data for February Are Better"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">This morning the unemployment rate for February was announced by the Department of Labor.\u00a0 The data show that the U.S. economy added 192,000 jobs in February and that the overall unemployment rate dropped below 9.0% for the first time in almost two years.\u00a0 Consensus forecasts had the economy adding 196,000 jobs.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> This result is clearly a very big positive for the U.S. economy.\u00a0 I especially like that economist estimates of jobs growth are finally starting to closely track reality.\u00a0 This is a very strong sign of a stabilizing, if not stabilized, U.S. economy; an economy that is becoming more predictable.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">I am happy to see that the unemployment rate has dropped below 9.0%.\u00a0 But as <a href=\"https:\/\/jasonapollovoss.com\/web2011\/02\/04\/what-my-intuition-tells-me-now-unemployment-data-for-january\/\" target=\"_blank\" rel=\"noopener\">I have discussed about the unemployment rate multiple times before<\/a>, the rate can drop simply because people stop looking for work and therefore they drop out of the pool of job seekers.\u00a0 Once news explodes into the community of the long-term, chronically unemployed, they will re-enter into the job hunting fray adding upward pressure on the unemployment rate.\u00a0 So <a href=\"https:\/\/jasonapollovoss.com\/web2010\/12\/13\/what-my-intuition-tells-me-now-2011-predictions\/\" target=\"_blank\" rel=\"noopener\">I am expecting that the unemployment rate will stop dropping with so much force<\/a> in the next several months.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Additional good news is that both December and January&#8217;s job gains were revised upward.\u00a0 I have also said numerous times that errors in statistical assessment that result in upward revisions are a strong sign of the underlying trend&#8230;UP!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 10; the unemployment rate of the U.S. labor force remains the world&#8217;s number one economic statistic.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This morning the unemployment rate for February was announced by the Department of Labor.\u00a0 The data show that the U.S. economy added 192,000 jobs in February and that the overall unemployment rate dropped below 9.0% for the first time in almost two years.\u00a0 Consensus forecasts had the economy adding 196,000 jobs. &nbsp; Analysis: This result [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-3699","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=3699"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3699\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=3699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=3699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=3699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}