News / Economy

US Economy Added 175,000 Jobs in February

US Employers Add 175K Jobs in February Despite Harsh Weatheri
|| 0:00:00
...  
🔇
X
Mil Arcega
March 07, 2014 10:22 PM
The U.S. economy continues to show signs of resilience. Despite severe winter conditions last month, employers added 175,000 jobs, picking up the pace of hiring after two months of sluggish job growth. As Mil Arcega reports for VOA, though, others worry the U.S. labor pool is getting smaller.
Related video report by Mil Arcega
Ken Bredemeier
U.S. employers added 175,000 jobs in February, picking up the pace of hiring after two months of sluggish job growth.

A senior economist at the country's biggest bank, James Glassman at JPMorgan Chase, tolds VOA the advance in the labor market last month is a favorable sign for the world's largest economy. That is especially so, he said, after an unusually cold and snowy winter in the U.S. limited job growth in December and January.

"The February report tells you we may see better numbers in the next couple months as we get back to something more normal," he said.

The U.S. Labor Department reported Friday that the unemployment rate edged slightly higher to 6.7 percent in February. Glassman said that may be a good indicator, though, that frustrated jobless workers are more optimistic about the economy and have resumed their search for employment, even if they have yet to find a new job.

"If the unemployment rate's going up because people are coming back into the market looking, then that's a good sign, frankly," he said. "I think for a while we shouldn't really view a rise in the unemployment rate as a negative if it accompanies an increase in the labor force, because it means that something must be going on. People must be hearing there are opportunities."

There are 10.5 million unemployed workers in the U.S., and more than a third of them have been out of work for six months or longer.

The U.S. jobless rate has been steadily declining over the last four-plus years as the country recovers from its worst downturn since the Great Depression of the 1930s.

Economists have noted that some of the improvement in the unemployment rate, however, has occurred because thousands of frustrated job seekers have been unable to find work and dropped out of the labor market, and thus are not counted by the government as unemployed.

Even as U.S. stock market indexes have soared to new highs, many American businesses have been reluctant to significantly boost their payrolls. Employers added only 129,000 jobs in January and 84,000 in December, after averaging 189,000 over the past year.

The country's central bank, the Federal Reserve, is watching the U.S. economic trends to see whether it should continue to trim its direct support of the American economy. Last year, the Fed had been buying $85 billion worth of securities a month in an effort aimed at keeping long-term interest rates low and boosting job growth, but now has cut the figure to $65 billion.

Fed policy makers, including new chair Janet Yellen, are meeting again later this month. Glassman said he thinks the Fed will continue to cut its asset purchases and end them in late 2014.

You May Like

Will Cuba Follow the Southeast Asia Model?

Decision to restore ties between US and Cuba has some debating whether it will lead to enhancement or regression of democracy for Communist island nation More

Kenyan Designer Finds Her Niche in Fashion Industry

‘Made in China’ fabrics underlie her success More

Report: CIA, Israel's Mossad Killed Senior Hezbollah Commander

The Washington Post story says Imad Mughniyah was killed instantly by a bomb "triggered remotely" from Tel Aviv by Mossad agents More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Jefferson's Library Continues to Impress, 200 Years Lateri
X
Deborah Block
January 31, 2015 12:12 AM
Two hundred years after the U.S. Congress purchased a huge collection of books belonging to former President Thomas Jefferson, it remains one of America’s greatest literal treasures and has become the centerpiece of Washington’s Library of Congress. VOA’s Deborah Block reports.
Video

Video Jefferson's Library Continues to Impress, 200 Years Later

Two hundred years after the U.S. Congress purchased a huge collection of books belonging to former President Thomas Jefferson, it remains one of America’s greatest literal treasures and has become the centerpiece of Washington’s Library of Congress. VOA’s Deborah Block reports.
Video

Video Egypt's Suez Canal Dreams Tempered by Continued Unrest

Egypt plans to expand the Suez Canal, raising hopes that the end of its economic crisis may be in sight. But some analysts say they expect the project may cost too much and take too long to make life better for everyday Egyptians. VOA's Heather Murdock reports.
Video

Video Threat of Creeping Lava Has Hawaiians on Edge

Residents of the small town of Pahoa on the Big Island of Hawaii face an advancing threat from the Kilauea volcano. Local residents are keeping a watchful eye on creeping lava. Mike O’Sullivan reports.
Video

Video Pro-Kremlin Youth Group Creatively Promotes 'Patriotic' Propaganda

As Russia's President Vladimir Putin faces international pressure over Ukraine and a failing economy, unofficial domestic groups are rallying to his support. One such youth organization, CET, or Network, uses creative multimedia to appeal to Russia's urban youth with patriotic propaganda. VOA's Daniel Schearf reports.
Video

Video Filmmakers Produce Hand-Painted Documentary on Van Gogh

The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Issues or Ethnicity? Question Divides Nigeria

As Nigeria goes to the polls next month, many expect the two top presidential contenders to gain much of their support from constituencies organized along ethnic or religious lines. But are faith and regional blocs really what political power in Nigeria is about? Chris Stein reports.
Video

Video Rock-Consuming Organisms Alter Views of Life Processes

Scientists thought they knew much about how life works, until a discovery more than two decades ago challenged conventional beliefs. Scientists found that there are organisms that breathe rocks. And it is only recently that the scientific community is accepting that there are organisms that could get energy out of rocks. Correspondent Elizabeth Lee reports.
Video

Video Paris Attacks Highlight Global Weapons Black Market

As law enforcement officials piece together how the Paris and Belgian terror cells carried out their recent attacks, questions are being asked about how they obtained military grade assault weapons - which are illegal in the European Union. As VOA's Jeff Swicord reports, experts say there is a very active worldwide black market for these weapons, and criminals and terrorists are buying.
Video

Video Activists Accuse China of Targeting Religious Freedom

The U.S.-based Chinese religious rights group ChinaAid says 2014 was the worst year for religious freedom in China since the end of the Cultural Revolution. As Ye Fan reports, activists say Beijing has been tightening religious controls ever since Chinese leader Xi Jinping came to office. Hu Wei narrates.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.
Video

Video Former Sudan 'Lost Boy' Becomes Chess Master in NYC

In the mid-1980’s, thousands of Sudanese boys escaped the country's civil war by walking for weeks, then months and finally for more than a year, up to 1,500 kilometers across three countries. The so-called Lost Boys of the Sudan had little time for games. But one of them later mastered the game of chess, and now teaches it to children in the New York area. VOA’s Bernard Shusman in New York has his story.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8845
JPY
USD
117.71
GBP
USD
0.6643
CAD
USD
1.2669
INR
USD
62.019

Rates may not be current.