Creating more jobs than either of the two months previous, February appears to be the month that American job creation has emerged from winter hibernation. Although 175,000 new jobs were added to the U.S. economy, analysts cautioned that the report from the Labor Department was not yet cause for celebration.
Nonetheless, the uptick in job creation eased emerging fears of another prolonged slowdown.
Many analysts are now suggesting that the slower hiring in December and January might be linked to a hard winter with extreme storms, rather a fundamental downshift in job creation. Even if analysts are right though, the payroll gain in February was still well short of the pace needed to return the national economy to “full employment levels.”
Perhaps the most promising sign of the improving economy is the uptick in the unemployment rate. February’s unemployment rate rose 0.1 percent to 6.7%, which, at least for the time being, suggests that more Americans are seeing signs of job opportunity and returning to the workforce.
For more information on the February jobs report, read this.