What will the GOP complain about now?

The economy adds 243,000 new jobs and the unemployment rate falls again. Finally, a really encouraging jobs report

Topics: Unemployment,

What will the GOP complain about now? (Credit: AP/Salon)

Proof, once again, that it’s hard to predict what’s going on in the U.S. labor market: The consensus opinion of analysts had the U.S. economy adding 120,000-150,000 jobs in January. The ADP private sector jobs report, released on Wednesday, counted 170,000 new jobs. But the obsessively watched U.S. government report, released Friday morning, reported a surprising — and encouraging — 243,000 new jobs. The unemployment rate fell another couple of notches, to 8.3 percent. Can you say bull market?

In the context of the last few years, that’s what we call a strong labor report. The job gains were widely distributed. Manufacturing added 50,000 jobs. Healthcare grew by 31000. Leisure and hospitality, 44,000. And so on. Most encouraging of all, the labor force participation rate held even at 63.7 percent and the employment-population ratio rose, clear signs that Americans are no longer simply abandoning hope and giving up any chance of finding a job.

Republican leaders are already complaining that the unemployment rate is still too high and reminding everyone that the economy has been awful for most of Obama’s term in office. That’s true, but the political implications of the new numbers are still huge. If we are to believe Nate Silver, the political number-cruncher now ensconced at the New York Times, President Obama needs jobs growth of 150,000 a month between now and November to have any chance of holding on to his job. Anything better than that obviously improves his odds. The timing could not be better for the White House.

You Might Also Like

There are still big problems to deal with. The Bureau of Labor Statistics counted 11.8 million unemployed Americans, and 42.9 percent of them are considered “long-term unemployed” — jobless for 27 weeks or more. That’s 5.5 million people whose job prospects get worse every month.

But U.S. economic growth is clearly accelerating. The auto industry had a great January. The manufacturing and retail sales sectors both reported healthy numbers in January. It’s getting more and more reasonable to argue that the labor market is finally gaining real steam. All the pieces are falling into place for a virtuous cycle — more jobs translating into more demand, which equals even more jobs.

Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

More Related Stories

Featured Slide Shows

  • Share on Twitter
  • Share on Facebook
  • 1 of 11
  • Close
  • Fullscreen
  • Thumbnails
    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 1

    KATHMANDU, NEPAL-- May 1, 2015--Team from Humane Society International doing assessments and rescue work in the Lalipur District outside Kathmandu where many houses collapsed and animals died during last week's earthquake.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 2

    KATHMANDU, NEPAL-- May 1, 2015--Team from Humane Society International doing assessments and rescue work in the Lalipur District outside Kathmandu where many houses collapsed and animals died during last week's earthquake.

    Humane Society International

    Nepal earthquake animal rescue

    Slide 3

    Humane Society International’s Animal Rescue Team deployed to Kathmandu, Nepal on 30th April 2015 to offer emergency animal welfare aid following a devastating 7.8 magnitude earthquake.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 4

    KATHMANDU, NEPAL-- May 1, 2015--Team from Humane Society International doing assessments and rescue work in the Lalipur District outside Kathmandu where many houses collapsed and animals died during last week's earthquake.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 5

    KATHMANDU, NEPAL-- May 1, 2015--Crew from HSI doing assessments and rescue work in the Lalipur District where many houses collapsed and animals died during last week's earthquake.

    Society for Animal Welfare and Management and Animal Welfare Network Nepal

    Nepal earthquake animal rescue

    Slide 6

    Calf rescue in Thali, a village outside Kathmandu, Nepal following the earthquake. Photo taken 29 April 2015.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 7

    Crew from HSI doing assessments and rescue work in the Lalipur District where many houses collapsed and animals died during last week's earthquake.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 8

    KATHMANDU, NEPAL-- May 1, 2015--Crew from HSI doing assessments and rescue work in the Lalipur District where many houses collapsed and animals died during last week's earthquake.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 9

    Rahul Sehgal, Asia director of the Humane Society International holds an orphaned baby goat in Kalitaar, an agricultural village outside Kathmandu that was severely damaged by the Nepal earthquake. Large scale damage and deaths of livestock across the country means recovery will be difficult for people who were already living below the poverty line.

    Jodi Hilton

    Nepal earthquake animal rescue

    Slide 10

    KATHMANDU, NEPAL-- May 1, 2015--Team from Humane Society International doing assessments and rescue work in the Lalipur District outside Kathmandu where many houses collapsed and animals died during last week's earthquake.

  • Recent Slide Shows

Comments

0 Comments

Comment Preview

Your name will appear as username ( settings | log out )

You may use these HTML tags and attributes: <a href=""> <b> <em> <strong> <i> <blockquote>