Thread: DONALD TRUMP AT CPAC 2014: WE CAN SOLVE ALL OUR PROBLEMS BY GETTING FILTHY RICH

A man and a woman attending a job fair wait in line in Detroit, Mich. on March 1, 2014. Joshua Lott/Reuters

Long-term unemployment rises

03/07/14 08:50 AM—Updated 03/07/14 02:49 PM
By Suzy Khimm

The U.S. economy added 175,000 new jobs in February, beating expectations that bad winter weather would significantly depress job growth. But the ranks of the long-term unemployed also grew last month, helping to nudge the unemployment up from 6.6% to 6.7%.

Close video

Morning Joe, 3/7/14, 9:28 AM ET

Report: 175,000 jobs added in February

CNBC’s Sara Eisen talks The February jobs report and the 6.7% unemployment rate. The Morning Joe panel then joins the discussion.
After many months of gradual decline, the number of long-term unemployed swelled by 203,000 in February, totaling 3.8 million. The change has come as Congress has let federal unemployment benefits expire, cutting off more than 1.7 million Americans who have been looking for work for more than 26 weeks. The silver lining is that those the government counts as being unemployed are actively seeking work. That’s why economists may actually be heartened that the unemployment rate increased slightly in February.
The bigger concern is that the long-term unemployed will be so discouraged that they’ll stop looking for work entirely, dropping out of the labor force—a concern that Democrats have voiced in their push to revive unemployment benefits. The labor force participation rate was unchanged in February, at 63%, but it remains at a historic low.
The unemployment insurance debate has returned to the Senate yet again this week, but the primary obstacle remains unchanged. Republicans don’t want to extend aid without paying for it, and they’ve rejected the Democrats’ payfors out of hand, including Sen. Jack Reed’s latest offer for a six-month extension offset by savings from the recently passed farm bill. But February’s concerning numbers about the long-term unemployed could add new urgency to the debate.



Explore:Economy and Jobs


http://www.msnbc.com/msnbc/jobs-report-february

February Jobs Report: U.S. Creates 175,000 Jobs, Unemployment Rate At 6.7%

Posted: 03/07/2014 8:31 am EST Updated: 03/07/2014 8:59 am EST



Job seekers line up for the Recruit Military veteran job fair in San Diego, California, U.S., on Thursday, Feb. 27, 2014. More Americans than forecast filed applications for unemployment benefits last week, a sign the labor market is improving in fits and starts. Photographer: Sam Hodgson/Bloomberg via Getty Images | Bloomberg via Getty Images

The U.S. economy added 175,000 jobs in February, as the unemployment rate ticked up to 6.7 percent, the Bureau of Labor Statistics reported Friday.
More from the Associated Press:

WASHINGTON (AP) — U.S. hiring improved in February from the previous two months despite a blast of wintry weather, likely renewing hopes that growth will accelerate this year.
The Labor Department said Friday that employers added 175,000 jobs last month, up from just 129,000 in January, which was revised up from 113,000. December's gain was also revised higher.
The unemployment rate rose to 6.7 percent from a five-year low 6.6 percent. More Americans started looking for work but didn't find jobs. That's still an encouraging sign because more job hunters suggest that people were more optimistic about their prospects.
The figures were a welcome surprise after recent economic reports showed that harsh weather had closed factories, lowered auto sales, and caused existing-home sales to plummet.
"Over the past three months, payrolls growth has averaged 130,000, which is pretty respectable given the widespread weather disruptions," tweeted University of Michigan economist Justin Wolfers.

The low temperatures and snow storms that hit the eastern half of the country in February might still have held back hiring. The number of Americans who said weather forced them to work part time rather than full time reached the highest level for February in the 36 years that the government has tracked the figure. The average work week fell.
Some recent reports hint that the economy will accelerate as the weather warms. The number of people who applied for unemployment benefits fell last week and is at about the same level as before the Great Recession.
Applications essentially reflect layoffs. The decline suggests that companies are confident about future growth, because layoffs would rise if employers expected business to weaken. Instead, businesses advertised more jobs online last month, according to the Conference Board. Online job ads rose 268,100 in February to 5.19 million.
Still, other factors are weighing on the economy. Auto makers and other manufacturers build up big stockpiles of goods in the second half of last year. That means they are likely producing fewer goods this year and is probably one reason factory orders are down.
Most economists forecast the economy will grow at a 2 percent annual pace or less in the first three months of the year, down from a 2.4 percent pace in the final three months of 2013. But they expect growth to accelerate in the spring and summer to roughly a 3 percent pace.

Check back for additional updates.

http://www.huffingtonpost.com/2014/0...n_4914381.html

http://www.alipac.us/f9/750-000-unem...n-more-298740/

UNEMPLOYMENT: Official unemployment of 6-7 percent is probably 21-22 percent in real numbers. If you stop looking for a job, they consider you employed. [Editorial note: that might be the best one-sentence summary of the problem with our headline unemployment statistic I've ever heard.]