Friday, March 05, 2004

WHERE'S THE JOBS?


Economist extraordinaire Jared Bernstein has the dirt on what's happening to jobs in America this month.

The unemployment rate in February remained unchanged, but only because 392,000 people got so frustrated with Bush's jobless recovery they decided to stop even looking for work. (Oh, and the household survey--fabled to reveal a phantom recovery--also shows civilian employment declines of 265,000 in the last month).

The economy added 21,000 jobs--but only in the government sector and in temprorary employment. Private employment saw no growth. The manufacutring sector posted its 43rd straight month of declines, shedding 3,000 jobs--hamburger flipping or otherwise. Oh, and the "big" job growth we saw last month was revised downward by 15,000 to 97,000.

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