The Unemployment Situation Holds Steadyby Tim Manni
Another month with consistent unemployment numbers isn’t all that encouraging for a country that is struggling to find its grip on economic recovery. However, some analysts are hopeful since many predicted February’s decline of 36,000 jobs to be worse.
The “good” news is that the unemployment rate held steady — remaining at 9.7% — but last month marked the 25th time payrolls have dropped in 26 months, according to MarketWatch.com.
Despite years of payroll declines, we’ve been saying for months now that the number of losses are trending in the right direction. “The improvement is real,” said HSH VP Keith Gumbinger. “The bleeding has stopped.”
While the stability comes as a welcome sign, it doesn’t necessary translate into recovery. “The improving overall picture still hasn’t produced any positive effects — help wanted ads still aren’t filling the classifieds,” said Gumbinger.
The fact that over a year ago the monthly payroll numbers bottomed at a monthly loss of 741,000 makes February’s report — while still negative — feel like a positive. That being said, until the monthly numbers actually turn positive, we’re not out of the woods. “With a little luck, we should finally move upward for good in the next few month,” said Gumbinger.
Has anyone seen their unemployment situation improve over that last few months?