Chart of the Day: Net New Jobs in February

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


The American economy added 295,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at 205,000 jobs, which is quite a bit better than January and represents a nice confirmation that the labor market has picked up over the past four months. Virtually all of the growth was in the private sector.

The headline unemployment rate went down to 5.5 percent, but this was due to a combination of more people getting jobs and more people dropping out of the labor force and no longer being counted in the unemployment numbers. So this is a fairly mixed report. Unsurprisingly, since it doesn’t represent a huge growth in the actual number of people employed, wages remained sluggish. Average hourly earning went up three cents, or 0.12 percent. Moody’s Mark Zandi tried to put a positive spin on this: he told the New York Times that “current wage growth data appeared gloomier than the underlying reality, in part because of demographic factors. As well-paid baby boomers enter retirement, to be replaced by younger workers starting out at lower salaries, he said, the overall wage pattern has tilted slightly lower. Also, people who have been out of work for long stretches are starting to come back into the labor force and accepting lower wages.”

So….not bad. But not quite as good as the top line number suggests. We’re still motoring along, but we’re still in second gear. We still haven’t really seen a sharp shift upward.

REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

payment methods

REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate