It’s job creation time, which means it's time to bring back the Bikini Graph! As always, red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. This comes to us from the Maddow Blog, courtesy of the wonderful Steve Benen:
Today’s announcement was a more pleasant reversal – job creation exceeded modest expectations.
The new report from Bureau of Labor Statistics shows the U.S. economy added 175,000 jobs in February, beating economists’ predictions. The unemployment rate inched higher to 6.7%, though as we’ve discussed many times, that’s not the metric to watch.
This time around, the unemployment rate ticked up because more people were out there looking for work, a healthy sign. Another nugget of good economic news: The public sector added an unusually high 13,000 jobs.
You may recall that the GOP have been doing all they can to eliminate public sector jobs (aka *gasp!* government jobs held by teachers, postal workers, firefighters, police officers, public transit workers, etc.). Why? Well, for one thing, a lot of those jobs are held by union members, and union members tend to vote for Democrats. For another thing, they want to minimize those jobs because, well... government. Duh.
But there's one thing they can't eliminate, no matter how hard they try: Facts.
[O]ver the last 12 months, the U.S. economy has added over 2.15 million jobs overall and 2.19 million in the private sector. What’s more, February was the 48th consecutive month in which we’ve seen private-sector job growth.
And we all know what that means, right?
For more analysis by Benen, follow the link.
Our own David Garber's take on the jobs report can be found here.