The U.S. economy may be improving with an increase in jobs in February.
March 8, 2012- More jobs were added by U.S. companies in February than in January. This is another sign that the economy is improving and making it somewhat easier to find work. Employers in the private sector added 216,000 new workers in February, compared to the 173,000 in January. This report came a day before the government’s jobs report, which includes both private and public employers.
Thursday’s report is not as comprehensive as the monthly one released by the government. However, the private sector report will help to increase optimism that the monthly increases in jobs will continue.
Most analysts believe the jobs report by the government will have a net of 210,000 new jobs added in February. They say the gains made by the private sector will be trimmed by the constant cutbacks taking place in government at the local, state and federal level. Most believe the unemployment rate will stay the same at 8.3%. The rate has dropped from its October 2009 high of 10%.
Signs point to the economy in the U.S. improving as the recovery in both exports and manufacturing has spread into the services industry. That has caused more private sector hiring, as initial claims for unemployment have fallen for four consecutive months. Yesterday’s report said the services industry added 170,000 jobs in February, representing over 80% of all new jobs added.
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