WORLD NEWS TOMORROW. USA -The US added 236,000 new jobs in February as the unemployment rate edged downed to 7.7%, its lowest level since December 2008 as reported to be. The figures easily beat economists? predictions that the US would add 160,000 jobs last month, This comes after the depth crisis in the USA increased by? almost $1 billion in the last 14 days. as reported on the U.S. NATIONAL DEBT CLOCK.
World news cheered the US stock markets. but speculation has it that this is merrily a false flag heading for the USD doomsday.? The Dow Jones Industrial Average rose 67.58 points, or 0.5%, to 14,397.07 presenting its sixth-straight daily gain, and a new record high while the US debt increased? from $ 16.6 trillion to 16.7 trillion leaving almost a? $1 billion more in debt. This is the 29th month in a row that the US has added jobs but cut others not mentioned. On average, 183,000 jobs were added each month in all of 2012. In past three months, that pace has picked up to an average of about 195,000 a month that still needs verification.
The Obama administration said the figures showed that the economy was strengthening but this needs to be questioned if? truly correct ? ?While more work remains to be done, today?s employment report provides evidence that the recovery that began in mid-2009 is gaining traction,? said Alan Krueger, chairman of the Council of Economic advisers. The issue of the USD dollar would temporary strengthen however long term prediction is that this will drive up inflation over 80% that presently stands on 73 % in the USA.
Obama said that he cautioned the reference period for the surveys was before sequester budget cuts began, suggesting that the impact of those cuts will be felt later. ?The administration continues to urge Congress to move toward a sustainable federal budget in a responsible way; one that balances tax-loophole closing, entitlement reform and sensible spending cuts, while making critical investments in the economy that promote growth and job creation ? and protecting our most vulnerable citizens,? Krueger said.
The Bureau of Labor Statistics said the job gains were made in professional and business services, construction, and healthcare. In a sign of the improving housing market, the construction industry added 48,000 in February. Since September, construction employment has risen by 151,000.
There are still major issues in the job market, however. The number of long-term unemployed ? those jobless for 27 weeks or more ? was unchanged in February at 4.8m. These individuals accounted for 40.2% of the unemployed. The unemployment rates for teenagers (25.1%), black people (13.8%), and Hispanics (9.6%) remained high and showed little or no change.
The number of people not in the labour force rose to 90.1 million in February, up from 89.9 million in January and 88.3 million in February 2012. The news comes after payroll giant ADP?s latest poll concluded that the private sector added 198,000 jobs in February, higher than the 175,000 forecast by economists. The firm also revised its January number up to 215,000, 22,000 higher than its initial estimate.
Mark Zandi, the chief economist of Moody?s Analytics, which compiles the report with ADP, said: ?The job market remains sturdy in the face of significant fiscal headwinds. Businesses are adding to payrolls more strongly at the start of 2013 with gains across all industries and business sizes. Tax increases and government spending cuts don?t appear to be affecting the job market.?
The jobs figures and better than expected figures from the service sector helped drive US stock markets to all time highs this week. This could also be since the confidence of the buyers market s in the US currency has temporally changed and could indicate much worse times to come. It all depends on long term interpretation. On Tuesday, the Dow Jones Industrial Average passed levels unseen since before the start of the recession.
Republicans sought to move the focus away from the figures and back to spending. House speaker John Boehner said: ?Any job creation is positive news, but the fact is unemployment in America is still way above the levels the Obama White House projected when the trillion-dollar stimulus spending bill was enacted, and the federal government?s ongoing spending binge has resulted in a debt that exceeds the size of our entire economy.?
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Source: http://www.worldnewstomorrow.com/?p=4563
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